CALGARY, AB, April 15, 2026 /PRNewswire/ - (TSXV: GRD) (OTC: GRDAF) - Grounded Lithium Corp. ("GLC" or the "Company") announces our financial and operating results for the three and twelve month period ended December 31, 2025. Selected financial and operational information is set out below and should be read in conjunction with the Company's December 31, 2025 financial statements and the related management's discussion and analysis, which are available for review at www.sedarplus.ca or the Company's website at www.groundedlithium.com.
Financial Results
(CAD$, except per share amounts and common shares outstanding) | ||||||
Three Months Ended | Twelve Months Ended | |||||
2025 | 2024 | 2025 | 2024 | |||
FINANCIAL RESULTS | ||||||
Net comprehensive loss | 144,789 | 141,079 | 302,543 | 1,073,898 | ||
Per share - basic and diluted | - | - | - | 0.01 | ||
Cash flow used in operating activities | 44,829 | 95,446 | 78,737 | 720,313 | ||
Per share - basic and diluted | - | - | - | 0.01 | ||
Funds flow used in operations | 53,837 | 55,234 | 102,882 | 710,696 | ||
Per share - basic and diluted | - | - | - | 0.01 | ||
Capital expenditures | ||||||
Capital expenditures (dispositions) | 28,511 | - | 28,511 | (800,000) | ||
Liquidity | ||||||
Working capital surplus (deficit) | (62,404) | 80,725 | (62,404) | 80,725 | ||
Common shares outstanding | ||||||
Weighted average - basic and diluted | 79,660,227 | 78,279,227 | 79,342,408 | 77,992,568 | ||
Outstanding, end of period | 79,660,227 | 78,279,227 | 79,660,227 | 78,279,227 | ||
2025 KLP Update
The Company continued to make measured progress on the Kindersley Lithium Project ("KLP") with our partner, Denison Mines Corp ("Denison"). The next major milestone for the KLP involves the completion and filing of a pre-feasibility study ("PFS"). The PFS will incorporate detailed operational, technical and financial assessments for the KLP. The combined expertise from Denison and GLC will support a meticulous approach to the PFS that acknowledges all the necessary engineering aspects for a lithium project and the production over the mine's life. More importantly, the PFS, assuming positive conclusions, will serve as the basis for important next steps in the journey to bring the KLP to a commercial project. We expect to file the PFS over the course of the summer 2026.
Oil and Gas Operations Update
We also announce the successful drilling, completion and equipping of the initial two oil wells as part of the previously announced partnership with various third parties. (See press release dated January 14, 2026). Both wells were drilled from a single pad with operations completed in a very short time frame thereby keeping capital costs to a minimum. The partnership is now focused on well-optimization efforts to deliver high quality spec grade product into the commodity markets as initial production and testing commenced in the last week of March. Given the current pricing environment, we expect to generate noteworthy cash flows which will shorten the payout timetable thereby enhancing working capital reserves for the Company.
"Our initial investment thesis to enter into another category of the resource extraction industry is demonstrating promising initial production," commented Gregg Smith, President & CEO. "Our Team's resource extraction expertise provides us potential to supplement liquidity as we deliver on our main investment thesis of delivering a commercially viable battery grade lithium project with our partners at Denison Mines Corp. We look to provide further updates over the coming months on operations from both categories of assets, and the results to date encourage us to plan our next oil drilling program."
About Grounded Lithium Corp.
GLC is a publicly traded lithium brine exploration and development company that owns 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 Southwest Saskatchewan as per the Company's updated PEA. The updated PEA, titled "NI 43-101 Technical Report: Preliminary Economic Assessment Kindersley Lithium Project - Phase 1 Update" dated November 7, 2023 and effective as of June 30, 2023, reports a Phase 1 NPV8 after-tax of US$1.0 billion with an after-tax IRR of 48.5%. In January 2024, GLC entered into an agreement with Denison whereby Denison has the option to earn up to a 75% working interest in the KLP by funding in aggregate up to $15,150,000 comprised of both cash payments to GLC of up to $3,150,000 and funding project expenditures of up to $12,000,000 through a structured earn-in option.
GLC's multi-faceted business model involves the consolidation, delineation, exploitation and ultimately development of our opportunity base to fulfill our vision to build a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition shift. U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for the Company on https://www.otcmarkets.com/.
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 pertaining to timing of filing a PFS, positive conclusions from the PFS, the KLP being a commercial project, ability to provide high quality spec crude oil into the commodity markets, ability to generate noteworthy oil and gas cash flows with short paybacks, and GLC's vision of becoming a best-in-class, environmentally responsible, Canadian lithium producer supporting the global energy transition.
Among the important factors, risks, uncertainties and assumptions 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 Western Canada, unexpected problems can arise due to technical difficulties and operational difficulties which impact the production, transport or sale of our products; geographic and weather conditions can impact the production; the risk that current global economic and credit conditions may impact commodity prices and consumption more than GLC currently predicts; the failure to obtain financing on reasonable terms; the risk that unexpected delays and difficulties in developing currently owned properties may occur; the failure of drilling to result in commercial projects; unexpected delays due to the limited availability of drilling equipment and personnel; and the other risk factors detailed from time to time in GLC's periodic reports. GLC's forward-looking statements are expressly qualified in their entirety by this cautionary statement.
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.
SOURCE Grounded Lithium Corp.
