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IW Business Bulletin – September 9, 2022

Alberta-based Grounded Lithium now on the TSX Venture Exchange

Calgary’s Grounded Lithium Corp. (GLC) announced on Sept. 9 that the company is now listed on the TSX Venture Exchange, with president and CEO Gregg Smith and members of the team opening the market the same day.

Two days earlier, GLC announced the successful negotiation of a freehold mineral rights agreement with a landowner in the company’s core area in southwest Saskatchewan.

GLC is a publicly-traded lithium brine exploration and development company controlling over 2.69 million tonnes of lithium carbonate in its Saskatchewan landholdings.

Kiplin Metals launches Saskatchewan subsidiary

Vancouver’s Kiplin Metals has established a Saskatchewan-based subsidiary firm to advance development of its Cluff Lake Road Uranium Project in the Athabasca Basin.

Kiplin Metals Inc. Saskatchewan will start drilling once final permits are granted, with Grander Exploration managing the drilling program.

Standard Uranium announces private placement

Standard Uranium will conduct a non-brokered private placement to raise up to $3.5 million “given the current strength in the global uranium sector, and uranium’s increasing importance as a green energy source.”

Funds raised will be used for exploration and working capital. Red Cloud Securities will act as a Finder for Standard Uranium.

Site Selection names Saskatchewan as second-best location in Canada

Site Selection chose Saskatchewan as the second-most competitive province in Canada, based on “cumulative and per-capita calculations from corporate facility projects, those projects’ capital investment and jobs as documented by Site Selection’s Conway Projects Database.”

The province came in second behind Ontario on the 2022 list of Canada’s Best Locations, due to the rising potash market and significant projects such as BHP’s Jansen mine and Paper Excellence’s planned restart of the Prince Albert pulp mill.

Province leads in merchandise exports

Statistics Canada reported on Sept. 9 that Saskatchewan’s merchandise exports increased by 67.5 per cent in July 2022 compared to the same time last year – the highest increase among the provinces.

The first seven months of 2022 saw the province’s merchandise exports increase by 42.9 per cent, the second highest increase among Canada’s provinces.

Metal ores and non-metallic minerals, and energy products led the province’s year-over-year growth, with increases of 227.7 per cent and 66.9 per cent respectively.

Ceres Global Ag Corp. reports results

Ceres Global Ag Corp. announced its Q4 and year-end earnings on Sept. 9, reporting annual gross profit and income from operations grew by more than 100 per cent compared to the previous fiscal year, with adjusted net income growing by 76 per cent.

Fourth-quarter gross profit and net income were down due to “lower ending inventories across the industry and less volume merchandized and traded,” said the company.

“Ceres realized its strongest annual operating financial performance during FY2022. Our team was able to successfully navigate the price changes in grain and oilseed markets, industrial product volumes continued their upward trend in the supply chain segment and we realized attractive revenues in our seed and processing business,” said Carlos Paz, Ceres president and CEO. “We have maintained our positive trajectory of financial performance, increasing our revenue by 42 per cent and income from operations by 170 per cent, compared to FY2021.”

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