Grid Battery Metals Inc. V.CELL

CELL's Strategic Decision: Separating Nickel & Lithium

[StockHawk1]

Grid Battery Metals Inc (CELL.v EVKRF) recently made an important strategic move to transfer ownership of its nickel properties in British Columbia to its fully owned subsidiary in exchange for 9,339,040 common shares of the subsidiary

This strategic decision is aimed at creating additional shareholder value without any additional cost to CELL shareholders as the 9,339,040 shares will be distributed to CELL shareholders.  

This move aims to separate the Nevada-based lithium projects (the Texas Springs, Volt Canyon, and Clayton Valley Lithium Projects) from the British Columbia-based nickel properties, allowing for separate financing and taking the BC nickel properties public on the CSE. 

This transaction is subject to approval by CELL shareholders and the BC Supreme Court.

CELL will continue to control its promising Nevada-based lithium projects, maintaining its focus on the growing demand for battery metals in the EV market.

Tim Fernback, CELL's President & CEO, explained the rationale behind this move, highlighting its potential benefits for shareholders. Watch here: https://cdn.jwplayer.com/previews/8VL4zFJ2

 

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As Fernback noted, this will create additional shareholder value by separating their Nevada-based lithium properties from their BC nickel properties. Each shareholder will receive a share dividend and have a proportionate share of the new entity, "giving each shareholder an equity interest in a new public company at no additional cost to them"