GEMC:CC - Global Energy Metals Announces Repricing of Warrants and Warrant Incentive Program

(TheNewswire)

Vancouver, BC - TheNewswire -December 19, 2022 - Global Energy Metals Corporation ( TSXV:GEMC ) ( OTC:GBLEF ) ( FSE:5GE1 ) (“Global Energy Metals”, the “Company” and/or“GEMC”) , a company involved in investmentexposure to the battery metals supply chain, announces that it intendsto reprice an aggregate of 13,506,500 outstanding common sharepurchase warrants (“Warrants”) issued pursuant to three privateplacements that closed September 2020, May 2021 and March 2022 withWarrant expiration dates in September 2023, May 2024, and March 2024(the “Warrant Amendments”).

The following is a schedule of the Warrants that areproposed to be repriced to $0.08:

The Company believes that the repricing of the amendedWarrants is reasonable and necessary in the context of the overallmarket, as it increases the likelihood that any additional near termcash needs of the Company could be financed through the exercise ofthe amended Warrants.

The Warrants as amended, will be subject to anaccelerated expiry provision such that if, for any 10 consecutivetrading days (the “Premium Trading Days”) during the unexpiredterm of the Warrants, the closing price of the common shares(“Common Shares”) exceeds $0.10, representing the amended Warrantexercise price of $0.08 plus 25%, the exercise period of the warrantswill be reduced to thirty (30) calendar days (the “AccelerationClause”). The Company will announce any such accelerated expiry dateby press release,  and the 30?day period will commence 7 days afterthe last Premium Trading Day.  All other terms of the Warrants remainunchanged.

Any insiders of the Company who participated as to morethan 10% in the financing in which the Warrants were issued will besubject to a limit of 10% of their holdings being repriced on a prorata basis in accordance with the policies of the TSX Venture Exchange(the “Exchange”). All other terms of the Warrants remainunchanged.

The Warrant Amendments are subject to acceptance by theWarrant holders and approval of the Exchange (the “Warrant AmendmentApproval”).

The Company also announces that if it obtains WarrantAmendment Approval, the Company will institute a warrant exerciseincentive program (the "Incentive Program") designed toencourage the early exercise of 13,506,500 Warrants. Under theIncentive Program, the Company will offer an inducement to eachWarrant holder that exercises their Warrants for a period of 30 daysfrom receipt of Warrant Amendment Approval (the "Early ExercisePeriod"), by the issuance of one additional common share purchasewarrant (an "Incentive Warrant") for each Warrant exercisedduring the 30 day period of the Incentive Program. Each IncentiveWarrant will entitle the holder to purchase one additional CommonShare for a period of 12 months from the date of issuance of suchIncentive Warrant, at a price of $0.15.

The Incentive Program will commence upon receipt ofWarrant Amendment Approval and it will expire 30 days thereafter at4:00 p.m. (Vancouver time). The Incentive Warrants will be subject toa four month hold period from the date of issuance and will include awarrant acceleration provision by which the Company will be permittedto accelerate the expiry date of the Incentive Warrants if the closingprice of the Company's Common Shares on the Exchange remains at orabove $0.20 for a period of ten consecutive days (the"Acceleration Event"). In the event the Company exercisesthe Acceleration Event (by disseminating a news release advising ofthe Acceleration Event), holders will have 30 days to exercise theIncentive Warrants, after which the unexercised Incentive Warrantswill be void and of no effect.

The Company intends to issue an updating news releaseupon receipt of Warrant Amendment approval and commencement of theIncentive Program outlining the terms and conditions and the method ofexercising the Warrants pursuant to the Incentive Program.

The Incentive Program remains subject to ExchangeApproval.

Global Energy Metals Corporation

(TSXV:GEMC ) ( OTC: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.

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.

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