GEMC:CC - Global Energy Metals Receives Approval for Repriced Warrants and Announces Warrant Exercise Incentive Program

January, 16 2023 09:31 AM Global Energy Metals Corporation

(TheNewswire)

Vancouver, BC - TheNewswire - January16, 2023 - Global EnergyMetals Corporation TSXV:GEMC |OTC:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company”and/or “GEMC”) , multi-jurisdictional,multi-commodity critical mineral exploration and development companyfocused on growth-oriented battery metal projects supporting theglobal transition to clean energy, announces that further to theCompany's news release datedDecember 19, 2022 , theCompany has received the approval from the TSX Venture Exchange (the“Exchange”) to amend the terms of the 13,506,500 share purchasewarrants ("Warrants") that were issued pursuant to threenon-brokered private placements that closed in September 2020, May2021 and March 2022.

The exercise price of the Warrants isnow $0.08. The Warrants are subject to an accelerated expiry provisionsuch that if, for any 10 consecutive trading days (the "PremiumTrading Days") during the unexpired term of the Warrants, theclosing price of the common shares ("Common Shares") exceedsthe acceleration price of $0.10, the exercise date will be acceleratedto thirty (30) calendar days (the "Acceleration Clause").The activation of the Acceleration Clause will be announced by pressrelease and the 30-day period will commence 7 days after the lastPremium Trading Day.

Also, further to the Company's newsrelease of the same date, the Company will now proceed to make anapplication for Exchange approval for a warrant exercise incentiveprogram, (the "Incentive Program") designed to encourage theearly exercise of the Warrants.

Under the Program, the Company willoffer an inducement to each Warrant holder that exercises theirWarrants on or before the date that is 30 days from Exchangeacceptance of the Incentive Program (the "Early ExercisePeriod"), by the issuance of one additional common share purchasewarrant (an "Incentive Warrant") for each Warrant exercisedearly. Each Incentive Warrant will entitle the holder to purchase oneadditional Common Share for a period of 12 months from the date ofissuance of such Incentive Warrant, at a price of $0.15. The Programwill expire on the 30 th day after Exchange approval of the Incentive Program at 4:00p.m. (Vancouver time) (the "Early Exercise ExpiryDate").

The Incentive Warrants will be subjectto a four month hold period from the date of issuance and will includea warrant acceleration provision by which the Company will bepermitted to accelerate the expiry date of the Incentive Warrants ifthe closing price of the Company's Common Shares on theEx change remains at orabove $0.20 for a period of ten consecutive days (the"Acceleration Event").

In the event the Company exercises theAcceleration Event (by disseminating a news release advising of theAcceleration Event), holders will have 30 days to exercise theIncentive Warrants, after which the unexercised Incentive Warrantswill be void and of no effect.

If all of the Warrants are exercisedduring the Early Exercise Period, GEMC expects to:

Receive gross proceeds of approximately$1,080,520 on or before the Early Exercise ExpiryDate;
Issue up to 13,506,500 common sharespursuant to the exercise of the Warrants by holders in accordance withthe original terms of the Warrants; and
Issue up to 13,506,500 IncentiveWarrants to Warrant holders pursuant to the early exercise of theWarrants on or before the Early Exercise Expiry Date.

The terms and conditions of the Programand the method of exercising Warrants pursuant to the Program will beset forth in a letter which will be delivered to the registered e-mailaddress of each Warrant holder, posted on SEDAR and will be madeavailable on the Company's website atwww.globalenergymetals.com.

Holders of Warrants who elect toparticipate in the Program will be required to deliver the followingto the Company on or prior to 4:00 p.m. (Vancouver time) on the EarlyExercise Expiry Date.

a duly completed and executed ExerciseForm, in the form which accompanies the certificate representing theWarrants;
the original certificate representingthe Warrants being exercised; and
the applicable aggregate exercise pricepayable to the Company by way of certified cheque, money order, bankdraft, or wire transfer in lawful money of Canada.

To the extent that holders of theWarrants take advantage of the opportunity to exercise their Warrantsearly, this will strengthen Global Energy’s current cash positionand provide the Company with additional working capital to meet itson-going business obligations.

The transaction is subject to thereceipt of all final regulatory approvals, including the approval ofthe Exchange. Any Warrants that are not exercised prior to the EarlyExercise Expiry Date will remain outstanding and continue to beexercisable for Common Shares on their existing terms.

The Warrants were originally issued bythe Company as part of a unit issued in connection with privateplacement financings completed in September 2020, May 2021 and March2022. The underlying Common Shares and Incentive Shares to be issuedpursuant to the exercise of the Warrants have not been, and will notbe, registered under the U.S. Securities Act or any U.S. statesecurities laws, and may not be offered or sold in the United Statesor to, or for the account or benefit of, United States persons absentregistration or any applicable exemption from the registrationrequirements of the U.S. Securities Act and applicable U.S. statesecurities laws. This press release does not constitute an offer tosell or the solicitation of an offer to buy securities in the UnitedStates, nor in any other jurisdiction.

Global Energy Metals Corporation

(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 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.

Company Name:	Global Energy Metals Corporation
Stock Symbol:	GEMC:CC
Market:	TSXVC
Website:	globalenergymetals.com