04:49 PM EDT, 07/31/2026 (MT Newswires) -- Grid Metals ( MSMGF ) after trade Friday said it received conditional TSX Venture Exchange approval for its venture with Agnico Eagle Mines' ( AEM ) Avenir Minerals unit to develop the Falcon West Cesium Property in southeastern Manitoba.

Through the agreement, Avenir acquired an initial 15% interest in the property for C$3.75 million in cash and will fund its share of future costs. Grid retains an 85% stake and will remain the operator of the joint venture, the company said.

Avenir also has the option to increase its ownership in Grid up to 19.99% after a mineral resource estimate is published. In addition, it can raise its interest in the Falcon West project to 30% if a preliminary economic assessment is completed or a mine plan is adopted, according to the statement.