GEMC:CC - GLOBAL ENERGY METALS Closes Second and Final Tranche of Private Placement
(TheNewswire)
Vancouver, BC / TheNewswire / March 25, 2022 / Global Energy MetalsCorporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the“Company” and/or “GEMC ”), a company involved in investment exposure to the batterymetals supply chain, is pleased to announce that, further to the March7th, 2022 news release announcing the closing of the first tranche ofthe Private Placement (the "Private Placement"), it hasclosed the second and final tranche (the "Second Tranche")of a non-brokered private placement for aggregate gross proceeds of$165,625, subject to final acceptance of the TSX Venture Exchange.
In total, 4,882,500 Units were issuedfor both tranches of the Private Placement, for aggregate grossproceeds of C$1,220,625.
Global Energy Metals CEO andPresident Mitchell Smith commented:
" We are very pleased to have completed thisoversubscribed private placement. The placement was oversubscribed bya total of $220,625 above the original goal of $1 million. Theadditional interest in this placement signifies the continuallyincreasing interest in not only the battery metals market but GlobalEnergy itself. With the financing closed the companies' technical teamcan continue to advance our Nevada-based Lovelock and Treasure Boxprojects and all exploration planned for 2022. "
The net proceeds of the PrivatePlacement will be directed toward further exploration and developmentof its battery mineral properties with a focus on the Lovelock Mineand Treasure Box projects in Nevada, USA. Funds will also be used tosupport potential future acquisitions as well as for general corporateand working capital purposes allowing for ongoing growth strategyexecution.
The Second Tranche of the PrivatePlacement consists of the issuance of 662,500 units of the Company(each a "Unit") at a price of $0.25 per Unit totalingC$165,625 with a full transferable warrant at a price of $0.40 for 24months. Each Unit is comprised of one common share in the capital ofthe Company (a "Common Share"), and one Common Sharepurchase warrant (each a "Warrant").
Completion of the Private Placement is subject to anumber of conditions, including without limitation, receipt of TSXVenture Exchange ("TSXV") approval.
The Company will pay finder's fees in accordance withthe policies of the TSXV consisting of a cash commission equal to upto 8% of the gross proceeds raised under the Private Placement andfinder warrants ("Finder Warrants") in an amount equal to upto 8% of the number of Units sold pursuant to the Private Placement.Each Finder Warrant will entitle the holder thereof to purchase onecommon share of the Company at a price of $0.40 per share for a periodof one year. Total fees paid to all Finders for the Second Tranchecomprise C$1,200 and 4,800 Finder Warrants.
All securities issued on closing of the Second Trancheof the Private Placement will be subject to a statutory hold periodexpiring July 26, 2022 (four-months and one day from closing). AllWarrants, excluding Finder Warrants, issued pursuant to the SecondTranche will expire on March 24, 2024. Finder Warrants will expire onMarch 24, 2023.
The securities to be issued inconnection with the Offering have not been nor will they be registeredunder the United States Securities Act of 1933, as amended, or statesecurities laws, and may not be offered or sold in the United Statesor to an account for the benefit of US persons, absent suchregistration or an exemption from registration. This press releaseshall not constitute an offer to sell or the solicitation of an offerto buy the securities in the United States or in any jurisdiction inwhich such offer, sale, or solicitation would beunlawful.
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 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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