The Conversation (0)
Grit Metals Corp. (TSXV: FIN,OTC:EUEMF) (FSE: K9T) ("Grit" or the "Company") announces the appointment of Jake Clark as Vice President, Exploration, and the formation of a technical advisory board (the "Advisory Board"). The Advisory Board will comprise Keith Henderson, Dan MacNeil and Mike Basha. These appointments strengthen Grit's technical capabilities as the Company prepares to advance its Finnish Pegmatite Project through a follow-up exploration program targeted for Q1 2026.
"Bringing Jake onto the executive team and assembling an advisory board of this calibre positions us well to execute on our exploration plans," said Jeremy Poirier, Chief Executive Officer. "Keith, Dan and Mike each bring decades of hands-on experience taking projects from discovery through development, and their guidance will be invaluable as we build on our Finnish portfolio."
Vice President, Exploration
Mr. Clark is a Registered Professional Geoscientist with over a decade of international experience across exploration and production environments in Europe, Africa, the Middle East and North America. Most recently, he held technical roles with Appian Capital Advisory's Base Metals division and Allied Gold, where he led precious and base metal projects from grassroots discovery through resource definition. His background includes managing multi-country exploration portfolios, applying modern geological and geophysical techniques, and contributing to projects supporting the European Union's critical metals objectives.
The Company entered into a consulting agreement with Mr. Clark pursuant to which the Company will issue 416,667 common shares ("Shares") at a deemed price of $0.12 per Share in full satisfaction of the $50,000 signing bonus owing to Mr. Clark. The board of directors has determined that settling the signing bonus in Shares is in the best interests of the Company as it will preserve cash for working capital purposes and strengthen the Company's balance sheet. The issuance of Shares remains subject to TSX Venture Exchange approval. All Shares issued will be subject to a hold period of four months and one day from issuance.
Advisory Board
Keith Henderson is a mining executive and geologist with over 30 years' experience in the resource sector. He founded and serves as CEO of Latin Metals (TSXV: LMS) and Velocity Minerals (TSXV: VLC). Earlier in his career, he held senior roles with Anglo American plc and Cardero Resource Corp., where he played a key role in advancing the Pampa de Pongo project through a positive scoping study to its eventual sale for US$100 million. He currently serves on the boards of Edge Copper (TSXV: EDCU) and BP Silver Corp. (TSXV: BPAG) and holds B.Sc. (Hons) and M.Sc. degrees in geology.
Dan MacNeil is an economic geologist with more than 25 years of experience spanning continental-scale project generation to in-mine resource expansion across the Americas and Europe. He currently consults with mid-tier and junior mining companies on resource expansion, target delineation, drill testing and property evaluations.
Mike Basha previously served as the Company's Vice President, Exploration, where he established Grit's technical foundation and advanced its Finnish portfolio. He will continue to contribute to the Company's exploration strategy through his new advisory role. The Company thanks Mr. Basha for his leadership and welcomes his continued involvement.
Exploration Update
With the strengthened technical team in place, Grit is reviewing its exploration database and historical work with the objective of defining a follow-up exploration program for Q1 2026 at its Finnish Pegmatite Project. Improving sentiment in the lithium sector supports the Company's decision to advance planning for additional field work and target definition.
Stock Option Grant
In accordance with the omnibus incentive plan of the Company, the Company has granted an aggregate of 2,255,000 stock options (the "Options") to certain directors, officers, consultants and members of the Advisory Board of the Company. The Options are exercisable into a Share of the Company at a price of $0.14 for a period of 10 years. Options granted to the directors and officers of the Company will see 25% vest immediately and 25% vesting every four months for one year from the date of grant, while Options granted to the Advisory Board of the Company will see 25% vest immediately, followed by 25% vesting every six months thereafter for 18 months. 50,000 of the Options will vest immediately.
About Grit Metals Corp.
Grit Metals Corp. is a junior exploration company focused on lithium-cesium-tantalum pegmatites in central Finland. The Company's exploration licences are located within 1 km of Keliber's mine and production complex, a €600 million investment by Sibanye-Stillwater Limited in partnership with Finnish Minerals Group (www.mineralsgroup.fi). The Keliber complex, which is currently in commissioning, will comprise open-pit and underground mining, a central spodumene concentrator and a lithium hydroxide plant at tidewater in Kokkola, creating a complete hard-rock lithium supply chain in the region (source: www.sibanyestillwater.com).
On behalf of the board of directors of the Company:
Jeremy Poirier
Chief Executive Officer
Telephone: 604-722-9842
Neither 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 release.
Cautionary Statements Regarding Forward-Looking Information
This news release contains forward-looking information within the meaning of applicable securities legislation, including statements regarding the anticipated contributions of the new Vice President, Exploration and members of the Advisory Board; obtaining requisite approvals of the TSX Venture Exchange; Option vesting schedules; the Company's exploration and development plans, including the timing, design and implementation of any future exploration programs; defining a follow-up exploration program for Q1 2026 at the Company's Finnish Pegmatite Project; the presence of lithium mineralization at, and the exploration and development potential of, the Finnish Pegmatite Project; and the potential impact of lithium market conditions on the Company's strategy. Although the Company believes that such statements are reasonable, it can give no assurances that such expectations will prove to be correct.
All forward-looking information is based on certain assumptions and analyses made by the Company in light of its experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. This information is subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected. Important factors that could cause actual results to differ include the costs of any anticipated work programs and the ability to fund such costs, required approvals in connection with any work programs and the ability to obtain such approvals, changes in commodity prices (including lithium), and risks inherent in exploration, as well as those described under the heading "Risks and Uncertainties" in the Company's most recently filed MD&A.
The Company does not intend, and expressly disclaims any obligation, to update or revise the forward-looking information contained in this news release, except as required by law. Readers are cautioned not to place undue reliance on forward-looking information.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/276878
