GEMC:CC - Global Energy Metals Announces Above-Market Private Placement
(TheNewswire)
Vancouver, BC - TheNewswire - July20, 2023 - Global EnergyMetals Corporation ( TSXV:GEMC ) ( OTC:GBLEF ) ( FSE:5GE1 ) (“Global Energy Metals”, the“Company” and/or “GEMC”) , amulti-jurisdictional, multi-commodity critical mineral exploration anddevelopment company focused on growth-oriented battery metal projectssupporting the global transition to clean energy, is pleased toannounce that it intends to sell on a non-brokered private placementbasis, an aggregate of 3,000,000 common shares of the Company (the"Common Shares") at an above-market price of C$0.10 perCommon Share for gross proceeds of C$300,000 (the"Offering").
It is anticipated that Gleason & Sons LLC alongwith directors and officers of Global Energy Metals will acquireCommon Shares under the Offering. The subscription of Common Shares toinsiders pursuant to the Offering is considered a related partytransaction for the purposes of Multilateral Instrument 61-101 -Protection of Minority Shareholders in Special Transactions ("MI61-101"). The Company intends to rely on exemptions from theformal valuation and minority shareholder approval requirementsprovided under sections 5.5(a) and 5.7(a) of MI 61-101 in respect ofsuch insider participation, based on the determination that fairmarket value of the participation in the Offering by insiders will notexceed 25% of the market capitalization of Global Energy Metals, asdetermined in accordance with MI 61-101.
The Company anticipates closing of the Offering as soonas practicable and is subject to receipt of all necessary regulatoryapprovals including the TSX Venture Exchange. The net proceeds fromthe sale of the Common Shares will be used for project evaluation andfor working capital and general corporate purposes. The Common Shareswill be issued on a private placement basis pursuant to exemptionsfrom prospectus requirements under applicable securities laws and willbe subject to a statutory hold period of four months and one day fromthe date of issuance. The Company may pay a finder's fee of 5% inconnection with a portion of the Offering in accordance with thepolicies of the TSX Venture Exchange and subject to receipt ofExchange approval.
This news release shall notconstitute an offer to sell or the solicitation of an offer to buy thesecurities in the United States nor shall there be any sale of thesecurities in any jurisdiction in which such offer, solicitation orsale would be unlawful. The securities have not been and will not beregistered under the United States Securities Act of 1933, as amended(the "1933 Act"), or any state securities laws and may notbe offered or sold in the United States unless registered under the1933 Act and any applicable securities laws of any state of the United States or anapplicable exemption from the registration requirements isavailable.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
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Global Energy Metals Corporation
(TSXV:GEMC |OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offersinvestment exposure to the growing rechargeable battery and electricvehicle market by building a diversified global portfolio ofexploration and growth-stage battery mineral assets.
Global Energy Metalsrecognizes that the proliferation and growth of the electrifiedeconomy in the coming decades is underpinned by the availability ofbattery metals, including cobalt, nickel, copper, lithium and otherraw materials. To be part of the solution and respond to thiselectrification movement, Global Energy Metals has taken a‘consolidate, partner and invest’ approach and in doing so haveassembled and are advancing a portfolio of strategically significantinvestments in battery metal resources.
As demonstrated withthe Company’s current copper, nickel and cobalt projects in Canada,Australia, Norway and the United States, GEMC is investing-in,exploring and developing prospective, scaleable assets in establishedmining and processing jurisdictions in close proximity to end-usemarkets. Global Energy Metals is targeting projects with low logisticsand processing risks, so that they can be fast tracked to enter thesupply chain in this cycle. The Company is also collaborating withindustry peers to strengthen its exposure to these criticalcommodities and the associated technologies required for a cleanerfuture.
Securing exposure tothese critical minerals powering the eMobility revolution is agenerational investment opportunity. Global Energy Metals believesNow is the Time to be part of this electrificationmovement.
Cautionary Statementon Forward-Looking Information:
Certain informationin this release may constitute forward-looking statements underapplicable securities laws and necessarily involve risks associatedwith regulatory approvals and timelines. Although Global Energy Metalsbelieves the expectations expressed in such forward-looking statements arebased on reasonable assumptions, such statements are not guarantees offuture performance and actual results or developments may differmaterially from those in the forward-looking statements. Except asrequired by law, the Company undertakes no obligation to update theseforward-looking statements in the event that management’s beliefs,estimates or opinions, or other factors, should change.
GEMC’s operationscould be significantly adversely affected by the effects of awidespread global outbreak of a contagious disease, including therecent outbreak of illness caused by COVID-19. It is not possible toaccurately predict the impact COVID-19 will have on operations and theability of others to meet their obligations, including uncertaintiesrelating to the ultimate geographic spread of the virus, the severityof the disease, the duration of the outbreak, and the length of traveland quarantine restrictions imposed by governments of affectedcountries. In addition, a significant outbreak of contagious diseasesin the human population could result in a widespread health crisisthat could adversely affect the economies and financial markets ofmany countries, resulting in an economic downturn that could furtheraffect operations and the ability to finance itsoperations.
For more informationon Global Energy and the risks and challenges of their businesses,investors should review the filings that are available atwww.sedar.com.
Neither TSX VentureExchange nor its Regulation Services Provider (as that term is definedin the policies of the TSX Venture Exchange) accepts responsibilityfor the adequacy or accuracy of this release.
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