GBLEF - Global Energy Metals' Early Warrant Exercise Incentive Program Submission Denied by TSX Venture Exchange for Being Too Advantageous
(TheNewswire)
Vancouver, BC - TheNewswire - November 23, 2021 - Global Energy MetalsCorporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the“Company” and/or “GEMC ”) , a company involved in the investment exposure to thebattery metals supply chain, regretfully announces that further to its news release datedNovember 15, 2021 ,that it has been denied approval from the TSX Venture Exchange (the"TSXV") for an incentive program (the "IncentiveProgram") submission to encourage the early exercise of up to4,794,000 outstanding share purchase warrants (the“Warrants”).
The TSXV does not have a publishedpolicy with respect to warrant incentive programs and submissions arereviewed on a case by case basis with decisions made followinginternal guidelines.
Under these internal guidelines, theTSXV denied GEMC’s Incentive Program submission as, althoughwarrants can be “in- the-money”, the current exercise price of theWarrants of $0.15 was significantly less than the Company's DiscountedMarket Price at the time of submission. Furthermore, the TSXV notedthat the Company does not qualify for the Exchange's Warrant IncentiveProgram based on the fact that the warrant holders would be getting afurther incentive from exercising their Warrants given that theWarrant exercise price is significantly “in-the-money” compared tothe current trading price of the Company’s shares.
The Company regrets any confusion it mayhave created with the proposed Incentive Program and holds firm thatany additional capital generated by the exercising of Warrants wouldstill be beneficial in allowing for the continued advancement of theCompany’s ongoing exploration initiatives including expanding theexisting work programs at the battery mineral rich Lovelock Cobalt NickelCopper Mine and Treasure Box projects in Nevada and the Monument PeakCopper-Silver-Gold project in Idaho .
The Warrants were originally issued aspart of units of the Company issued pursuant to a private placementfinancing completed on September 29,2020 . Each Warrantremains exercisable to acquire one common share of the Company at aprice of $0.15 per share and will expire on September 7 and September28, 2023.
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 electrified economy in the coming decades is underpinned by theavailability of battery metals, including cobalt, nickel, copper,lithium and other raw materials. To be part of the solution andrespond to this electrification movement, Global Energy Metals hastaken a ‘consolidate, partner and invest’ approach and in doing sohave assembled and are advancing a portfolio of strategicallysignificant investments 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.
We seek safeharbour.
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