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Wednesday, January 10, 2024 2:33:20 PM
From the news:
Grid's wholly-owned subsidiary, AC/DC Battery Metals Inc. ("AC/DC"), will carry out the proposed fourth phase exploration plans in 2024. This exploration program will take place following Grid's proposed subsidiary Spin-out plan originally announced on September 28, 2023. As part of the proposed Grid Spin-out plan, current Grid shareholders will receive a common share dividend in AC/DC shares representing a proportionate value in this new public company. This overall transaction is proposed to give our shareholders a bonus - a share in another public company for no additional cost. In order to fund its operations going forward, AC/DC also plans to complete a private placement financing as part of the overall transaction.
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