@SK: By default, there is no option to remove links and Read More.. from Gridalicious Free theme. You can remove read more easily by adding in the following css in “Appearance => Customize => Theme Options => Custom CSS Options” box:
#featured-grid-content .more {
display: none;
}
But for removing link, you need to build child theme and then copy function gridalicious_page_grid_content()
to your child theme functions.php file and remove the link. You can check about Child theme at http://catchthemes.com/blog/create-child-theme-wordpress/
Also you have option to upgrade to Pro version and you can change “Featured Page Grid Content” to “Featured Image Grid Content” which lets you to add title, content, link, image all options. So, just don’t add link and it will remove link and read more. For more about additional featured in pro version. Check out theme instructions page at http://catchthemes.com/theme-instructions/gridalicious-pro/