GBLEF - Global Energy Metals Enters into Definitive Agreement to Acquire a Strategic Interest and NSR Royalty on Past-Producing Norwegian Nickel-Copper-Cobalt Project
(TheNewswire)
Vancouver, BC - TheNewswire - April 6, 2021 - Global Energy MetalsCorporation ( TSXV:GEMC ) | ( OTC:GBLEF ) | ( FSE:5GE1 ) (“Global Energy Metals”, the“Company” and/or “GEMC ”) is pleased to announce the signing of a definitive agreement(the “Definitive Agreement”) to acquire a strategic interest inthe RånaNickel-Copper-Cobalt project including the past-producing Bruvann Nickel Mine in the Råna mafic-ultramaficintrusion in NorthernNorway (“The Råna Project”). Additionally, and as part of thetransaction, GEMC will acquire a 1% royalty on the Net Smelter Returnsfrom the Property (the “NSR”) from Chincherinchee Nominee Pty Ltd.(the “Royalty Holder”).
Mitchell Smith, CEO & Director ofGEMC commented:
“The Råna Project is located inone of the world's most opportune nickel districts. In addition tofurther exploration potential and resource scaling, it has thestrategic benefit of being in close proximity to, and serving as apotential future supply source for, an emerging European batterymanufacturing hub in Norway and the Scandinavian Peninsula.”
“The signing of this definitiveagreement for a strategic interest and royalty on the Råna Projectand past-producing Bruvann Nickel Mine is a major milestone for theCompany and an active step towards our goal of serving the greenenergy value chain.”
With a limited number of quality nickelsulphide projects available worldwide, the Råna Project representsone of the few drill-ready, low capex Class-1 nickel opportunitiesglobally that has strong mining potential and exploration upside andpresents as an opportunity as a future source of material suitable forthe rechargeable battery sector. For further details on the terms ofthe acquisition and the highlights of the Råna Project andpast-producing Bruvann Nickel Mine, please refer to the Company’snews release dated February 17,2021 .
Amongst other matters, the DefinitiveAgreement is subject to receipt of all approvals and third-partyconsents of the boards of directors of Global and ScandinavianResource Holdings Pty Ltd. and regulatory authorities, including butnot limited to the Exchange.
QualifiedPerson
Mr. Paul Sarjeant, P. Geo., is thequalified person for this release as defined by National Instrument43-101 - Standards of Disclosure for Mineral Projects.
All technical information pertaining tothe Vendor and its properties has been provided directly by theVendor, and management of GEMC has not independently verified suchinformation.
GlobalEnergy Metals Corporation
(TSXV:GEMC | OTC:GBLEF| FSE:5GE1)
Global Energy Metals is focused onoffering investment exposure to the raw materials deemed critical forthe growing rechargeable battery market, by building a diversifiedglobal portfolio of battery mineral assets including project stakesand sector specific equity positions. GEMC anticipates growing itsbusiness through the acquisition and development of battery mineralprojects alongside key strategic partners. The Company holds 100%of the Millennium Cobalt Project and two neighbouring discovery stageexploration-stage cobalt assets in Mount Isa, Australia positioningit as a leading cobalt-copper explorer and developer in thefamed mining district in Queensland, Australia. The Company holds an85% interest in two battery mineral projects, the Lovelock CobaltMine and Treasure Box Project, located on the doorstep of theworld’s largest lithium-ion battery production plant, GigaNevadathat Tesla Motors Ltd. and partner Panasonic Corp. have built inNevada, USA. Additionally, the Company holds a 70%interest in the past-producing Werner Lake Cobalt Mine project inOntario, Canada.
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
Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals
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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