Grid Metals Corp. (TSXV:GRDM)(OTCQB:MSMGF) has announced an agreement with Toronto-based ICP Securities Inc. for automated market-making services. The proposed engagement includes use of ICP’s proprietary ICP Premium® algorithm and remains subject to acceptance by the TSX Venture Exchange.
#Agreement terms
The agreement has a start date of September 11th, 2026, and an Initial Term of four (4) months. It will then renew automatically for Additional Terms of one (1) month unless either party gives at least thirty (30) days written notice before the end of the applicable term.
Grid Metals will pay ICP a monthly fee of C$7,500, plus applicable taxes, from the company’s available cash reserves. The agreement contains no performance factors, stock options or other compensation linked to the engagement.
#Market-making arrangements
According to the announcement, ICP’s activity will primarily address temporary imbalances between supply and demand for Grid Metals shares. ICP will bear the costs it incurs when buying and selling the shares, and no third party will provide funds or securities for the market-making activities.
ICP is described as an arm’s-length party. It currently holds no interest in Grid Metals securities and has no direct or indirect right to acquire them. The announcement states that ICP and its clients may acquire an interest in the company’s securities in the future.
#Grid Metals’ Manitoba portfolio
Grid Metals says its current focus is the Falcon West Property in Manitoba, an emerging cesium discovery. Falcon West is subject to a joint venture agreement with Avenir Minerals, which has a 15% interest in the property.
The company also identifies the Makwa Property as being subject to an Option and Joint Venture Agreement with Teck Resources Limited. Its Thompson East Property is subject to an Option and Joint Venture Agreement with Boliden Mineral Canada Ltd., which is currently sole-funding early-stage exploration on that property.
Grid Metals also holds interests in the Mayville, Donner and Fox River properties. The company states that it has over 250,000 hectares of mineral claims and exploration licences registered to Grid in Manitoba. Further terms and conditions apply to the company’s property agreements and the market-making engagement.
#Regulatory and forward-looking cautions
The engagement cannot proceed as announced unless it is accepted by the TSX Venture Exchange. The company also cautions that forward-looking information is subject to risks and uncertainties, including regulatory approvals, financing availability, exploration results, permitting, environmental and operational matters, mineral title and tenure, commodity price fluctuations, potential dilution, market volatility, litigation and regulatory issues, and Grid Metals’ early stage of development.
#Key Takeaways
- Grid Metals has announced a proposed automated market-making engagement with ICP Securities, subject to TSX Venture Exchange acceptance.
- The agreement starts on September 11th, 2026, with an Initial Term of four (4) months and automatic one (1) month renewals unless notice is provided.
- ICP will receive C$7,500 per month, plus applicable taxes, from Grid Metals’ available cash reserves.
- ICP will cover its own share-trading costs, while no third party will provide funds or securities for the market-making activities.
- The announcement states that ICP currently holds no interest in Grid Metals securities, although ICP and its clients may acquire an interest in the future.
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