Grid Announces Appointment of New CFO

Rhea-AI Summary

Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) has appointed Douglas Harris as the new Chief Financial Officer, succeeding Rodger Roden, who stepped down after over a decade. Harris, a Chartered Accountant with 20 years of experience, has been involved in over $2 billion in transactions. The issuance of 250,000 incentive options at $0.12 has been approved for Harris, alongside 50,000 DSUs for independent directors. The company focuses on exploration and development of nickel, copper, PGM, and lithium projects in Manitoba and Ontario.

Positive

• Douglas Harris brings over 20 years of financial services experience, including $2 billion in transactions.
• Incentive options and DSUs issued may align Harris' interests with company performance.

Negative

• Transition in leadership could create continuity risks.
• Departure of a long-serving CFO may lead to experience gaps in financial strategy.

TORONTO, ON / ACCESSWIRE / October 25, 2021 / Grid Metals Corp. (the "Company") (TSXV:GRDM)(OTCQB:MSMGF) is pleased to announced that Douglas Harris has joined Grid as Chief Financial Officer replacing Rodger Roden who is stepping down to concentrate on other endeavours after over 10 years as Grid CFO.

Douglas Harris is a Chartered Accountant and a Chartered Business Valuator with over 20 years of experience in the financial services sector, including accounting, corporate finance, private equity and mergers and acquisitions, participating in over $2 billion of transactions. Mr. Harris holds an MBA (Accg) from the Rotman School of Management at the University of Toronto and a BSc. from the University of Guelph. In addition to his serving as Chief Financial Officer of Grid Metals, Mr. Harris also serves as the Chief Financial Officer of several public and private companies operating in the technology and natural resources sectors.

Company President and CEO Robin Dunbar commented. " We are pleased to have Doug join our team at an exciting time for the Company. All of us at Grid would like to acknowledge Rodger for the highly professional approach to his responsibilities and excellent work he did for Grid over the past ten years. We all certainly wish Rodger the best in his future endeavours and are pleased that he will remain as a consultant to the Company on part time basis.

The Board of Directors has approved the issuance of 250,000 incentive options exercisable at $0.12 subject to a vesting schedule to Mr Harris and 50,000 DSUs to the independent directors of the Company.

About Grid Metals Corp.

Grid Metals Corp. is an exploration and development Company with projects focused on N-Cu-PGM and lithium in Manitoba and Ontario.

To find out more about Grid Metals Corp., please visit www.gridmetalscorp.com.

On Behalf of the Board of Grid Metals Corp.
Robin Dunbar - President, CEO & Director Telephone: 416-955-4773 Email: rd@gridmetalscorp.com
David Black - Investor Relations Email: info@gridmetalscorp.com

We seek safe harbour.

This news release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and forward-looking information within the meaning of the Securities Act (Ontario) (together, "forward-looking statements"). Such forward-looking statements may include the Company's plans for its properties, the overall economic potential of its properties, the availability of adequate financing and involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements expressed or implied by such forward- looking statements to be materially different. Such factors include, among others, risks and uncertainties relating to potential political risk, uncertainty of production and capital costs estimates and the potential for unexpected costs and expenses, physical risks inherent in mining operations, metallurgical risk, currency fluctuations, fluctuations in the price of nickel, cobalt, copper and other metals, completion of economic evaluations, changes in project parameters as plans continue to be refined, the inability or failure to obtain adequate financing on a timely basis, and other risks and uncertainties, including those described in the Company's Management Discussion and Analysis for the most recent financial period and Material Change Reports filed with the Canadian Securities Administrators and available at www.sedar.com.

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

This news release does not constitute an offer of securities for sale in the United States. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States absent U.S. registration or an applicable exemption from U.S. registration requirements.

SOURCE: Grid Metals Corp.

View source version on accesswire.com:
https://www.accesswire.com/669349/Grid-Announces-Appointment-of-New-CFO

FAQ

Who is the new CFO of Grid Metals Corp?

Douglas Harris has been appointed as the new CFO of Grid Metals Corp.

What experience does Douglas Harris have?

Douglas Harris has over 20 years of experience in accounting, corporate finance, private equity, and M&A.

What stock symbols are associated with Grid Metals Corp?

The stock symbols for Grid Metals Corp are TSXV:GRDM and OTCQB:MSMGF.

What incentives were approved for the new CFO?

The Board approved the issuance of 250,000 incentive options for Douglas Harris.

Why did Rodger Roden step down as CFO?

Rodger Roden stepped down to concentrate on other endeavors after over 10 years in the role.