GEMC:CC - Global Energy Metals Announces Acceleration of Warrant Expiry Date for Warrants; Reminds Shareholders of Early Exercise Incentive Program

February, 07 2023 09:05 AM Global Energy Metals Corporation

(TheNewswire)

Vancouver, BC - TheNewswire -February 7, 2023 - GlobalEnergy Metals 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, announces thatfurther to the Company's news release datedDecember 19, 2022 , January 16,2023 and January 27,2023 , that it haselected to exercise its right under the terms of the repriced warrants(“the Warrants”) governing the common share purchase warrants ofthe Company issued pursuant to three non-brokered private placementsthat closed in September 2020, May 2021 and March 2022 (the“Eligible Warrants”).

Pursuant to the repricing, in the event the Company'sshare price closed at a price of CAD$0.10 per share for a period of 10consecutive trading days on the TSX Venture Exchange, the Company mayaccelerate the term of the Eligible Warrants to a period of 30 dayscommencing 7 days after the last premium trading day with notice givento the warrant holders in writing or by news release.

As of February 7, 2023, the closing price of theCompany's common shares has traded in excess of CAD$0.10 for at least10 consecutive trading days. Accordingly, the expiry date of theWarrants is accelerated to March 15, 2023 (the "AcceleratedExpiry Date").

Any Warrants that remain unexercised by 4:00 p.m.(Pacific Time) on the Accelerated Expiry Date will expire and becancelled.

The Company wishes to remind holders ofEligible Warrants of its early warrant exercise incentive program (the“Program”) intended to encourage the early exercise of up to 13,506,500 share purchase warrants (the “Eligible Warrants")that were issued pursuant to three non-brokered private placementsthat closed in September 2020, May 2021 and March 2022.

The Program commenced on January 27,2023, at 9:00 a.m. PST and will expire on February 27, 2023, at 4:00p.m. PST (the “Early Exercise Expiry Date”).

Under the Program,holders of Eligible Warrants who elect to exercise their EligibleWarrants at the price of $0.08 per Eligible Warrant before the EarlyExercise Expiry Date will receive:

common shares in the capital of theCompany to which they are otherwise entitled under the terms of the Eligible Warrants;and

one additional common share purchasewarrant of the Company (each, an "Incentive Warrant")entitling the holder to acquire an additional common share of theCompany at a price of $0.15 per share for a period of twelve (12)months from the date of issuance of such Incentive Warrant, subject toacceleration as noted below.

Additional details of the Program,including the documentation required to be delivered by holders to theCompany on or before the Early Exercise Expiry Date, are available inthe Company's news release dated January 16,2023 .

The Incentive Warrants will be subjectto a four month hold period from the date of issuance and will includea warrant acceleration provision pursuant to which the Company will bepermitted to accelerate the expiry date of the Incentive Warrants ifthe closing price of the Company's Common Shares on the Exchangeremains at or above $0.20 for a period of ten consecutive days (the"Acceleration Event").

In the event the Company exercises theAcceleration Event (by disseminating a news release advising of theAcceleration Event), holders will have 30 days to exercise theIncentive Warrants, after which the unexercised Incentive Warrantswill be void and of no effect.

If all of the Eligible Warrants areexercised during the Early Exercise Period, GEMC expectsto:

Receive gross proceeds of approximately$1,080,520 on or before the Early Exercise ExpiryDate;
Issue up to 13,506,500 common sharespursuant to the exercise of the Warrants by holders in accordance withthe original terms of the Warrants; and
Issue up to 13,506,500 IncentiveWarrants to Warrant holders pursuant to the early exercise of theWarrants on or before the Early Exercise Expiry Date.

Holders of Eligible Warrants who electto participate in the Program will be required to deliver thefollowing to the Company on or prior to 4:00 p.m. (Vancouver time) onthe Early Exercise Expiry Date.

a duly completed and executed ExerciseForm, in the form which accompanies the certificate representing theEligible Warrants;
the original certificate representingthe Eligible Warrants being exercised; and
the applicable aggregate exercise pricepayable to the Company by way of certified cheque, money order, bankdraft, or wire transfer in lawful money of Canada.

To the extent that holders of theEligible Warrants take advantage of the opportunity to exercise theirWarrants early, this will strengthen Global Energy’s current cashposition and provide the Company with additional working capital tomeet its on-going business obligations.

The transaction is subject to thereceipt of all final regulatory approvals, including the approval ofthe Exchange.

The Eligible Warrants were originallyissued by the Company as part of a unit issued in connection withprivate placement financings completed in September 2020, May 2021 andMarch 2022. The underlying Common Shares and Incentive Shares to beissued pursuant to the exercise of the Warrants have not been, andwill not be, registered under the U.S. Securities Act or any U.S.state securities laws, and may not be offered or sold in the UnitedStates or to, or for the account or benefit of, United States personsabsent registration or any applicable exemption from the registrationrequirements of the U.S. Securities Act and applicable U.S. statesecurities laws. This press release does not constitute an offer tosell or the solicitation of an offer to buy securities in the UnitedStates, nor in any other jurisdiction.

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 isthe Time to be part of this electrification movement.

For FurtherInformation:

Global Energy MetalsCorporation

#1501-128 West PenderStreet

Vancouver, BC, V6B 1R8

Email: info@globalenergymetals.com

t. + 1 (604) 688-4219

www.globalenergymetals.com

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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 statementsare based on reasonable assumptions, such statements are notguarantees of future performance and actual results or developmentsmay differ materially from those in the forward-looking statements.Except as required by law, the Company undertakes no obligation toupdate these forward-looking statements in the event thatmanagement’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.

We seek safeharbour.

Company Name:	Global Energy Metals Corporation
Stock Symbol:	GEMC:CC
Market:	TSXVC
Website:	globalenergymetals.com