Global Energy Metals Announces Increase to Private Placement Offering and Intended Closing of First Tranche

2022-03-07 / @thenewswire

(TheNewswire)

Vancouver, BC / TheNewswire / March 7, 2022 / Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”), a company involved in investment exposure to the battery metals supply chain, is pleased to announce that it has increased its previously announced non-brokered private placement (the "Private Placement") to accommodate investor demand, subject to acceptance of the TSX Venture Exchange.

The Private Placement will now consist of a total of 5,000,000 units (the “Units”) at a price of $0.25 per Unit for gross proceeds of up to C$1.25 million. Each Unit will consist of one common share (a "Common Share") in the capital of the Company and one transferrable share purchase warrant (a “Warrant”). Each Warrant will be exercisable to purchase an additional share of the Company for a period of 24 months from the closing date at a price of C$0.40. The Warrants are subject to an acceleration clause whereby if on any 10 consecutive trading days occurring after four months and one day has elapsed from the closing date, the daily volume weighted average trading price of the common shares of the Company is at least $0.50 per share, the Company may accelerate the expiry date of the warrants to the 30th day after the date on which the Company gives notice to the subscriber in accordance with the warrant of such acceleration.

The Company also announces that it will close an initial tranche of the Private Placement (the “First Tranche”), subject to TSX Venture Exchange approval. In connection with the First Tranche, which was supported by existing shareholders and insiders, including officers and a director of the Company, Global Energy Metals will issue 4,220,000 Units at a price of C$0.25 per Unit for aggregate gross proceeds of C$1,055,000.

In connection with the First Tranche, the Company has agreed to pay finder’s fees of $32,000 cash and 128,000 finder warrants priced at $0.40 per share exercisable for a period of twelve (12) months.

The net proceeds of the Private Placement will be directed toward further exploration and development of its battery mineral properties with a focus on the Lovelock Mine and Treasure Box projects in Nevada, USA. Funds will also be used to support potential future acquisitions as well as for general corporate and working capital purposes allowing for ongoing growth strategy execution.

The Company intends to close the second tranche of the Private Placement on or before March 18, 2022 subject to certain conditions, including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange.

All securities issued in connection with the Offering will be subject to a four month hold period from the date of closing, in accordance with applicable Canadian securities laws.

Insiders, officers, and directors of the Company (collectively "Insiders") will participate as to 280,000 units in the First Tranche, which participation will constitute "related party transactions" for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions. The Company will rely upon exemptions from the requirement to obtain a formal valuation and seek minority shareholder approval for the private placement on the basis that the fair market value of the Insiders' participation in the private placement will be less than 25% of the Company's current market capitalization.

The securities to be issued in connection with the Offering have not been nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, absent such registration or an exemption from registration. This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, sale, or solicitation would be unlawful.

Global Energy Metals Corporation

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.

Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a ‘consolidate, partner and invest’ approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.

As demonstrated with the 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 established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.

Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believe the the time to be part of this electrification movement.

For Further Information:

Global Energy Metals Corporation

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: info@globalenergymetals.com

t. + 1 (604) 688-4219

www.globalenergymetals.com

Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals

Subscribe to the GEMC eNewsletter

Cautionary Statement on Forward-Looking Information:

Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.

GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.

For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

We seek safe harbour.