12:53:47 EDT Sun 12 May 2024
Enter Symbol
or Name
USA
CA



Global Energy Metals Corp (2)
Symbol GEMC
Shares Issued 42,756,519
Close 2023-07-19 C$ 0.085
Market Cap C$ 3,634,304
Recent Sedar Documents

Global Energy arranges $300,000 private placement

2023-07-20 15:01 ET - News Release

An anonymous director reports

GLOBAL ENERGY METALS ANNOUNCES ABOVE-MARKET PRIVATE PLACEMENT

Global Energy Metals Corp. intends to sell, on a non-brokered private placement basis, an aggregate of three million common shares of the company at an above-market price of 10 cents per common share for gross proceeds of $300,000.

It is anticipated that Gleason & Sons LLC along with directors and officers of Global Energy Metals will acquire Common Shares under the Offering. The subscription of Common Shares to insiders pursuant to the Offering is considered a related party transaction for the purposes of Multilateral Instrument 61-101 - Protection of Minority Shareholders in Special Transactions ("MI 61-101"). The Company intends to rely on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101 in respect of such insider participation, based on the determination that fair market value of the participation in the Offering by insiders will not exceed 25% of the market capitalization of Global Energy Metals, as determined in accordance with MI 61-101.

The Company anticipates closing of the Offering as soon as practicable and is subject to receipt of all necessary regulatory approvals including the TSX Venture Exchange. The net proceeds from the sale of the Common Shares will be used for project evaluation and for working capital and general corporate purposes. The Common Shares will be issued on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws and will be subject to a statutory hold period of four months and one day from the date of issuance. The Company may pay a finder's fee of 5% in connection with a portion of the Offering in accordance with the policies of the TSX Venture Exchange and subject to receipt of Exchange approval.

Global Energy Metals Corporation

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 believes Now is the Time to be part of this electrification movement.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.