The TSX Venture Exchange has accepted for filing documentation with respect to the earn-in agreement dated Jan. 15, 2024, between Grounded Lithium Corp. and an arm's-length purchaser, whereby the purchaser may acquire up to a 75-per-cent interest in the company's Kindersley lithium project on or before June 30, 2028, by spending $2.2-million in qualifying exploration expenditures on the project for the option to earn a 30-per-cent interest in the project (phase 1), and by paying $850,000 and spending an additional $3.8-million in qualifying exploration expenditures on the project for the option to earn an additional 25-per-cent interest in the project (phase 2), and by paying an additional $1.5-million and spending an additional $6-million in qualifying exploration expenditures on the project for the option to earn an additional 20-per-cent interest in the project (phase 3).

The company also sold a 5-per-cent gross overriding royalty (GORR) on the property to the purchaser in accordance with the terms of a royalty agreement dated Jan. 15, 2024, for a cash payment of $800,000. Pursuant to the terms of the royalty agreement, the GORR dropped to 2 per cent upon the receipt of all approvals, inclusive of the company's shareholder approval of the agreement.

For further details, please refer to the company's news releases dated Jan. 16, 2024, and Jan. 25, 2024.