Grounded Lithium Corp. (GLC) based in Calgary, AB, released its financial and operating results for the three and six months ending June 30, 2024. Detailed financial and operational information can be found in the company’s financial statements and management’s discussion and analysis on their website or at www.sedarplus.ca.
The financial results for the three months ended June 30, 2024, show a net comprehensive loss of CAD$241,823 compared to CAD$944,463 in 2023. Cash flow used in operating activities was CAD$93,410 in 2024 compared to CAD$407,588 in 2023. Funds flow used in operations totaled CAD$108,213 in 2024 compared to CAD$684,960 in 2023.
Capital expenditures for the six months ending June 30, 2024, included the first cash payment from Denison Mines Limited, which is recorded as a reduction of the Exploration & Evaluation asset balance.
Grounded Lithium Corp. is a publicly traded lithium brine exploration and development company with substantial mineral resources in Southwest Saskatchewan. The company aims to become a leading Canadian lithium producer supporting the global energy transition. Qualified professionals have overseen the scientific and technical information presented in this release.
Forward-looking statements in this press release address GLC’s business outlook, but actual results may vary due to unforeseen technical and operational difficulties. GLC’s vision is to establish itself as an environmentally responsible lithium producer in Canada.
This news release does not constitute an offer to sell securities in any jurisdiction. The TSX Venture Exchange and its Regulation Services Provider do not endorse or verify the accuracy of this news release.
For further information, contact Gregg Smith, President & CEO, or Greg Phaneuf, SVP Corporate Development & CFO, at 587.319.6220 or [email protected]
