Grounded Lithium Secures Loan for Oil Facility Upgrades

Grounded Lithium Corp. (TSXV: GRD) (OTC: GRDAF), a publicly traded lithium brine exploration and development company, has announced its June oil sales results. The partnership's average daily oil production was 123 barrels per day, consistent with previous reports.

The Company also entered into an agreement to secure loan proceeds of C$106,000 at an interest rate of 12% per annum on an unsecured basis. This loan is repayable over an 18-month term, with 50% supported by a standalone agreement between Grounded Lithium Corp. and an unrelated third party.

Total facility upgrade costs are estimated to be C$263,000, which will be funded in part by Analogy Capital Advisors Inc.'s (40% working interest) non-interest-bearing loan of approximately C$86,000 provided by the vendor of the facility equipment.