VANCOUVER, British Columbia, Canada - July 17, 2026 – TheNewswire - Grounded People Apparel Inc. ("Grounded" or the "Corporation") (CSE: SHOE.X), (OTC PINK: GPAIF), (Frankfurt: K1G, WKN: A3DVB1) is pleased to announce that it has closed the first tranche of the non-brokered private placement of subscription receipts (each a “Subscription Receipt”) that it previously announced on April 29, 2026 (the “Private Placement”) at a price of C$0.15 per Subscription Receipt, for aggregate gross proceeds of C$751,999.90. It is anticipated that one or more subsequent tranches of the Private Placement will close in due course.

Each Subscription Receipt will entitle the holder thereof, upon satisfaction or waiver of the applicable escrow release conditions, to receive one unit of the Corporation (each, a “Unit”). Each Unit consists of one common share (each, a “Share”) of the Corporation and one-half of one Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one common share (each, a “Warrant Share”) at an exercise price of C$0.17 per Warrant Share for a period of thirty-six (36) months from the date of issuance.

The Subscription Receipts issued in connection with the first tranche of the Private Placement will be subject to a statutory hold period of four months from the date of issuance, in accordance with applicable Canadian securities legislation. The Private Placement is subject to the final approval of the Canadian Securities Exchange (“CSE”).

 

Pursuant to the terms of the Private Placement, 25% of the gross proceeds therefrom will be immediately available to the Corporation to fund general working capital, administrative and transaction-related expenses (including audit fees, legal fees, and other customary costs). A portion of the proceeds will be used to satisfy outstanding fees incurred in connection with obtaining the technical report, and will be treated as “bridge financing” undertaken to facilitate the Corporation’s fundamental change (the “Transaction”) and satisfying the listing requirements applicable to an exploration and mining issuer. The remainder of the proceeds will be held in escrow pending completion of the Transaction.

 

This news release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.

 

About Grounded People Apparel Inc.

 

Grounded People Apparel Inc. is a publicly traded company listed on the Canadian Securities Exchange. The Corporation is undertaking a strategic review of its business and evaluating potential opportunities across emerging sectors, with a focus on prudent execution and shareholder value.

ON BEHALF OF THE BOARD OF DIRECTORS

“Maximilian Justus”

 

Maximilian Justus

Chief Executive Officer

 

For further information, please contact:  

Email: investors@groundedpeople.com

 

Telephone: 1-844-673-6753

 

Forward Looking Information

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation, including, without limitation, statements relating to: the Corporation’s ability to complete the Private Placement; the conversion of the Subscription Receipts on the terms described herein; the receipt of CSE approval; statutory hold periods; the terms and conditions of the Private Placement; the anticipated completion of any additional tranches of the Private Placement; and anticipated use of proceeds from the Private Placement. Often, but not always, forward-looking statements or information can be identified by the use of words such as “estimate”, “project”, “belief”, “anticipate”, “intend”, “expect”, “plan”, “predict”, “may” or “should” and the negative of these words or such variations thereon or comparable terminology are intended to identify forward-looking statements and information.

Although management of Grounded believes that the assumptions made and the expectations represented by such statements or information are reasonable, there can be no assurance that forward-looking statements or information herein will prove to be accurate. Forward-looking statements and information by their nature are based on assumptions and involve known and unknown risks, uncertainties and other factors which may cause actual results, performance or achievements, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. These factors include, but are not limited to: risks relating to the completion of the Private Placement; fluctuations in general macroeconomic conditions; fluctuations in securities markets; anticipated  exploration and development activities and management’s objectives, strategies, beliefs and intentions; change in national and local government, legislation, taxation, controls, regulations and political or economic developments; risks and hazards associated with the business of mineral exploration; relationships with and claims by local communities and indigenous populations; availability of and increasing costs associated with mining inputs and labour; the speculative nature of mineral exploration and development (including the risks of obtaining necessary licenses, permits and approvals from government authorities); and title to properties.

There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

The CSE has neither approved nor disapproved the contents of this news release. Neither the CSE nor its Market Regulator (as that term is defined in the policies of the CSE) accepts responsibility for the adequacy or accuracy of this release.