Grid Battery Metals Inc. announced that further to its news release dated June 26, 2023, the Company has now closed the Transaction to acquire the Texas Spring Property, located in Elko County, Nevada from Springfield Land Limited Liability ("Springfield"). The Company and Springfield entered into a Purchase and Sale Agreement which Agreement has been accepted by the TSX Venture Exchange. In connection with the closing, the Company has paid USD 55,000 and issued 8,000,000 shares of Grid Battery to Springfield.

The Company has also paid finder's fees in the amount of 707,142 shares of the Company. All shares issued in connection with the Transaction and the finder's fee will be subject to a four month and a day hold period expiring on November 14, 2023 in accordance with applicable Canadian Securities Laws.