Grounded Lithium Reports First Quarter 2026 Financial and Operating Results
Rhea-AI Summary
Grounded Lithium (OTC:GRDAF, TSXV:GRD) reported Q1 2026 results for the period ended March 31, 2026 and completed transactions to diversify into low-risk, shallow decline oil-producing properties. The structure provides a future 13.5% working interest in net operating income from wells on these properties.
Q1 2026 showed a net comprehensive loss of CAD 63,993 versus income of CAD 30,392 in Q1 2025. Cash flow from operating activities was CAD (22,326), funds flow from operations was CAD (26,001), and working capital showed a deficit of CAD 29,774 versus a prior-year surplus of CAD 175,083.
AI-generated analysis. Not financial advice.
Positive
- Completed transactions for working interests in low-risk, shallow decline oil-producing properties
- Structure provides a future 13.5% working interest in net operating income from the Properties
Negative
- Net comprehensive result shifted to CAD 63,993 loss from CAD 30,392 income
- Cash flow from operating activities was CAD (22,326) versus CAD 43,063 in Q1 2025
- Funds flow from operations was CAD (26,001) versus CAD 60,186 in Q1 2025
- Working capital moved to CAD 29,774 deficit from CAD 175,083 surplus
News Market Reaction – GRDAF
On the day this news was published, GRDAF declined 6.28%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
First Quarter 2026 Financial and Operational Highlights
- During the quarter, the Company diversified its resource portfolio by completing a series of transactions that will provide a working interest in low-risk, shallow decline, oil producing properties. The series of transactions involved first a purchase of a mineral interest from a related party, which was subsequently farmed-out with other third-party working interests in the same properties to a newly created specific purpose vehicle, which funded the capital expenditures for the combined working interest (the "Properties"). Post payout of the capital expenditures, the Company will earn a
13.5% working interest of the net operating income from wells drilled on the Properties, thereby supporting working capital requirements for the Company.
Financial Results
(CAD$, except per share amounts and common shares outstanding) | |||
Three Months Ended March 31, | |||
2026 | 2025 | ||
FINANCIAL RESULTS | |||
Net comprehensive income (loss) | (63,993) | 30,392 | |
Per share - basic and diluted | - | - | |
Cash flow from (used in) operating activities | (22,326) | 43,063 | |
Per share - basic and diluted | - | - | |
Funds flow from (used in) operations | (26,001) | 60,186 | |
Per share - basic and diluted | - | - | |
Capital expenditures | |||
Capital expenditures (dispositions) | 1,360 | - | |
Liquidity | |||
Working capital surplus (deficit) | (29,774) | 175,083 | |
Common shares outstanding | |||
Weighted average - basic and diluted | 79,678,438 | 78,371,294 | |
Outstanding, end of period | 80,479,727 | 79,660,227 | |
About Grounded Lithium Corp.
GLC is a publicly traded lithium brine exploration and development company that controls approximately 1.0 million metric tonnes of Measured & Indicated lithium carbonate equivalent mineral resource and approximately 3.2 million metric tonnes of Inferred lithium carbonate equivalent resource over our focused land holdings in
Qualified Person
Scientific and technical information contained in this press release has been prepared under the supervision of Doug Ashton, P.Eng., Alexey Romanov, P. Geo., Meghan Klein, P. Eng., Dean Quirk, P.Eng., Jeffrey Weiss, P.Eng., Chad Hitchings., P.L. Eng., and Michael Munteanu, P.Eng., each of whom is a qualified person within the meaning of NI 43-101.
Forward-Looking Statements
This press release may contain forward-looking statements and forward-looking information within the meaning of applicable Canadian securities laws. The opinions, forecasts, projections and statements about future events of results, are forward looking information, forward-looking statements or financial outlooks (collectively, "forward-looking statements") under the meaning of applicable Canadian securities laws. These statements are made as of the date of this press release and the fact that this press release remains available does not constitute a representation by GLC that the Company believes these forward-looking statements continue to be true as of any subsequent date. Although GLC believes that the assumptions underlying, and expectations reflected in, these forward-looking statements are reasonable, it can give no assurance that these assumptions and expectations will prove to be correct. Such statements include, but are not limited to, statements regarding the Company's ability to support working capital requirements with a higher working interest in the oil and gas properties post payout, the internal rates of return and net present values of the KLP, activities funded by Denison to drive the KLP value and GLC's vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition.
Among the important factors that could cause actual results to differ materially from those indicated by such forward-looking statements are: GLC's expectation that our operations will be in
This news release shall not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction.
Neither the 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 news release.
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SOURCE Grounded Lithium Corp.