Stonegate Capital Partners Initiates Coverage on Grounded Lithium Corp. (TSXV: GRD) (OTCQB: GRDAF)

 DALLAS, TX -- March 16th, 2023 --  Grounded Lithium Corp. (TSXV: GRD) (OTCQB: GRDAF): Stonegate Capital Partners initiates their coverage on Grounded Lithium Corp. The full report can be accessed by clicking on the following link: https://stonegateinc.com/reports/GRD_Initiation.pdf

COMPANY UPDATES

• Next steps: GLC has a number of catalyst on the horizon. We expect in the near term to see the results form the Hatch Ltd. report, which will inform the DLE method to be used at the Project. In 2Q23 we also expect the Company to complete their PEA which will allow us to use the updated resource estimates and NAV value of the Project to re-rate GLC.
• Untapped potential in market: Current demand estimates for lithium far exceed current supply options. This is even more acute in North America where Grounded operates. One of the critical components of operating a lithium brine operation is the Direct Lithium Extraction method used. GLC is currently working with Hatch Ltd. to determine the best DLE method for their specific resource. This will allow Grounded to get their operations to full economic production on a timescale that will benefit from the supply/demand imbalance that is expected to continue into the future.
• Clean balance sheet: It is noticeable that the Company does not have any liens on their property, nor have they engaged in any royalty agreements. Additionally there is no debt on the balance sheet, putting GLC in a strong position going forward. We also note that the Company has enough cash on hand to proceed through the entire PEA process without any further financing. We think that this strong balance sheet along with managements personal investment into the Project shows the alignment between investors and management.
• Continuous growth: Throughout 2022 management showed a willingness and ability to grow their land base. Their total land grew four-fold year over year to end 2022. GLC has already shown an ability to grow their land base in 2023 with their purchase of an additional 33 sections from Hub City Lithium Corp., increasing the KLP land base by 12%. This acquisition was equal to 8,498 hectares at approximately $50 per acre, which is significantly lower than recent land sales in the surrounding areas. Management continuously proven that any additional land holdings will have to pass a stringent criterion for future commerciality.
• Strong management team: Grounded Lithium Corp. boast a roster of capable executives with a combination of over 150 years of both technical and managerial experience. This combination uniquely positions GLC to take advantage of the DLE technologies, without deploying to much of their own capital on R&D. Additionally GLC has a roster of highly capable advisors, giving management access to expertise while retaining decision making responsibilities.
• Valuation: Grounded Lithium Corp. is expected to complete their Preliminary Economic Assessment in 2Q23. This will provide greater clarity of the potential that the Kindersley Project holds. Once Grounded completes their Preliminary Economic Assessment, we will be able to apply those results to determine a reasonable valuation. For a more in-depth discussion on valuation please see page 9 of this report.