GBLEF - Global Energy Metals Announces Private Placement Financing; Enters into Strategic Relationship with Goldspot Discoveries Corp. to Apply AI Technology at Lovelock and Treasure Box Projects in Nevada
(TheNewswire)
Vancouver, BC - TheNewswire - February 22, 2022 - GlobalEnergy Metals Corporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC ”), a company involvedin investment exposure to the battery metals supply chain, is pleasedto announce that it has entered into a strategic relationship withGoldSpot Discoveries Corp. (TSXV: SPOT, OTCQX: SPOFF)("GoldSpot") to assist in the advancement of the Company'sTreasure Box and Lovelock Mine projects located approximately 150 km(100 miles) east of Reno, Nevada. GoldSpot will utilize its artificialintelligence and machine learning technologies to optimize explorationtargets, allowing the Company to better focus drilling efforts andunlock value across its significant landholdings in the highlyprospective Stillwater Range in Nevada.
Commenting on therelationship, Mitchell Smith, President and CEO stated:
" We are delighted to welcome GoldSpot as astrategic service provider and shareholder of Global Energy Metals. Itwill be a busy season for our Nevada-based cobalt, copper and nickelprojects, and believe the properties will benefit tremendously fromthe assistance of GoldSpot's technologies and data-driven approach toexploration. We welcome the strong interest and investment into theprivate placement from GoldSpot and look forward to working with themto evaluate and unlock the potential of both the Treasure Box andLovelock Mine projects."
Commenting on thepartnership with Global Energy Metals, Vincent Dubé-Bourgeois, CEO& Director of GoldSpot Discoveries Corp., stated:
" GoldSpot is excited to be partnering andapplying our proprietary technology to Global Energy Metals’critical metal projects . We believe the market has underestimatedthe value of the company and that of its strategic property portfolioincluding those projects in Nevada. The opportunity that theLovelock Mine and Treasure Box land package holds is substantial andwe believe the large number of potential targets on the property areripe for further analysis and refining under our team's technologicaland geological guidance."
The Company also announces that itintends to complete a non-brokered private placement financing of upto C$1.0 million (the “Offering”). Closing of the Placement isconditional on acceptance of the TSX Venture Exchange.
The Offering will consist of 4,000,000units (the “Units”) at a price of $0.25 per Unit for grossproceeds of up to C$1.0 million. Each Unit will consist of onecommon share (a "Common Share") in the capital of theCompany and one transferrable share purchase warrant (a“Warrant”). Each transferrable warrant will be exercisable topurchase an additional share of the Company for a period of 24 monthsfrom the closing date at a price of C$0.40. The net proceeds of theOffering will be directed toward further exploration and development of its batterymineral properties with a focus on the Lovelock Mine and Treasure Boxprojects in Nevada, USA. Funds will also be used to supportpotential future acquisitions as well as for general corporate andworking capital purposes allowing for ongoing growth strategyexecution.
Certain insiders of Global Energy Metals mayparticipate in the Offering; however, the total participation byinsiders is not expected to exceed 25% of the Offering.
The Company has agreed to and may pay a finder’s feeof 8% cash and 8% broker warrants for Units sold to certain investors(“Broker Warrants”). Each Broker Warrant entitles the holder toacquire one common share of the Company at a strike price of $0.40 fora period of one year from the date of issuance.
Warrants are subject to an acceleration clause wherebyif on any 10 consecutive trading days occurring after four months andone day has elapsed from the closing date, the daily volume weightedaverage trading price of the common shares of the Company is at least$0.50 per share, the Company may accelerate the expiry date of thewarrants to the 30th day after the date on which the Company givesnotice to the subscriber in accordance with the warrant of suchacceleration.
All securities to be issued pursuant to the Offeringwill be subject to a four month hold period from the closing dateunder applicable securities laws in Canada and among other things,receipt by Global Energy Metals of all necessary regulatory approvals,including the TSX Venture Exchange.
The securities issued in connection with the Offeringhave not been nor will they be registered under the United StatesSecurities Act of 1933, as amended, or state securities laws, and maynot be offered or sold in the United States or to an account for thebenefit of US persons, absent such registration or an exemption fromregistration. This press release shall not constitute an offer to sellor the solicitation of an offer to buy the securities in the UnitedStates or in any jurisdiction in which such offer, sale, orsolicitation would be unlawful.
Global Energy MetalsCorporation
(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 believe thethe 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 crisis thatcould adversely affect the economies and financial markets of manycountries, resulting in an economic downturn that could further affectoperations and the ability to finance its operations.
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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