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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Grounded Lithium Corp | TSXV:GRD | TSX Venture | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.045 | 0.045 | 0.05 | 0.045 | 0.045 | 0.045 | 8,000 | 00:00:00 |
CALGARY, AB, Jan. 11, 2023 /CNW/ - (TSXV: GRD) (OTCQB: GRDAF) - Grounded Lithium Corp. ("GLC" or the "Company") is pleased to provide a summary of our 2022 operational and financial achievements in addition to providing our forecasted 2023 activities, dependant upon market conditions.
2022 represented a monumental year for the Company. Entering 2022, we were a private company with a small team, owned a small land base and had a modest treasury. We achieved a significant number of critical accomplishments during 2022, building a solid foundation from which to grow our business on multiple fronts and unlock further value. Significant 2022 achievements and their respective importance are detailed below:
(source: GLC January 2023 Corporate Presentation)
While we advanced our business and value proposition significantly since incorporation, particularly during 2022, we understand there is much to accomplish in the coming years to attain our vision of becoming a leading Canadian lithium producer. Milestones planned to drive the business forward during 2023 include:
"Grounded advanced our business on all fronts extremely quickly from our humble roots in a little over two years," commented Gregg Smith, President and CEO. "Although pleased with our progress to our current position, we remain hyper-focused on the full value proposition and it is our responsibility to move the business forward to achieve both near and long-term milestones. Combined with further understanding of the lithium from brine industry by the wider investment community, 2023 promises to be a very exciting time for all GLC stakeholders."
GLC is a publicly traded lithium brine exploration and development company that controls approximately 3.7 million tonnes of lithium carbonate equivalent of inferred resource over our focused land holdings in Southwest Saskatchewan. GLC's multi-faceted business model involves the consolidation, delineation, exploitation and ultimately development of our opportunity base to fulfill our vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/.
Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, P.Eng, Suryanarayana Karri, P. Geoph., Alexey Romanov, P. Geo. and Meghan Klein, P. Eng., each of whom is a qualified person within the meaning of National Instrument 43-101 – Standards of Disclosure for Mineral Projects.
This press release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. The opinions, forecasts, projections and statements about future events of results, are forward looking information, forward-looking statements or financial outlooks (collectively, "forward-looking statements") under the meaning of applicable Canadian securities laws. These statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by GLC that the Company believes these forward-looking statements continue to be true as of any subsequent date. Although GLC believes that the assumptions underlying, and expectations reflected in, these forward-looking statements are reasonable, it can give no assurance that these assumptions and expectations will prove to be correct. Such statements include, but are not limited to, statements regarding growing the Company's business on multiple fronts and unlocking value, the expectation that the Company's land holdings will be sufficient to support several 20,000 tonne/yr lithium from brine projects, the ease of converting the Company's test well to a producing well for both a CDF and commercial operations, productivity rates based on the Company's first test well, the expectation that the Company will restrict its productivity rate to help ensure deliverability for decades, the number of wells per section required by the Company to contribute to a 20,000 tonne/yr project, GLC's land holdings supporting multiple 20,000 tonne/yr projects, the Company's hopes to have greater access to capital at a lower cost, the selection of DLE technologies and the timing of same, the Company's core team's ability to lead the Company's projects to commercial production, the Company's need to add additional team members, the expectation that if one or more industry participants demonstrates success in achieving a commercial DLE technology, such event will lift the entire sector, the timing of results for third party lab pilots and the costs thereof, the design and construction of a CDF and the timing thereof, operating results from the CDF providing sufficient data to determine if a full-scale operation is economically and commercially attractive,, and GLC's vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition.
Among the important factors, risks, uncertainties and assumptions that could cause actual results to differ materially from those indicated by such forward-looking statements are: GLC's expectation that our operations will be in Western Canada, unexpected problems can arise due to technical difficulties and operational difficulties which impact the production, transport or sale of our products; geographic and weather conditions can impact the production; the risk that current global economic and credit conditions may impact commodity prices and consumption more than GLC currently predicts; the failure to obtain financing on reasonable terms; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the failure of drilling to result in commercial projects; unexpected delays due to the limited availability of drilling equipment and personnel; and the other risk factors detailed from time to time in GLC's periodic reports. GLC's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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SOURCE Grounded Lithium Corp
Copyright 2023 Canada NewsWire
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