Grid Battery Metals Inc. Annual and Special General Meeting: Announcement of its Subsidiary's Spin-off

Grid Battery Metals Inc., a company listed on the TSXV under the symbol CELL, has scheduled its annual and special general meeting for April 9, 2024. This event will take place at their premises in Coquitlam, British Columbia. The announcement made on February 21, 2024 also marks the beginning of the distribution of the Management Information Circular to shareholders on March 13, 2024.

This meeting will mainly focus on the spin-off of its subsidiary holding nickel assets in British Columbia into a new entity, AC/DC Battery Metals Inc., which will be listed separately. This operation will allow each Grid shareholder to receive a proportional share in this new company at no additional cost. At the same time, Grid will continue to focus its efforts on its lithium projects in Nevada.

The spin-off transaction, which still needs to be approved by the TSX Venture Exchange, Grid shareholders, and the Supreme Court of British Columbia, will see shareholders exchange their current shares for an equal number of new shares in Grid and shares in AC/DC Battery Metals Inc. Additionally, Grid has also filed a national instrument 43-101 technical report for its nickel project, highlighting the conclusion of the third phase of its exploration program and plans for the fourth phase in 2024.