Powered by Cobalt … Driven by Demand GLOBAL ENERGY METALS ANNOUNCES $500,000 PRIVATE PLACEMENT WITH LEAD ORDER OF $200,000
THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES
GLOBAL ENERGY METALS ANNOUNCES $500,000 PRIVATE PLACEMENT WITH LEAD ORDER OF $200,000
Vancouver, BC / TheNewswire / August 26, 2020 / Global Energy Suite 1501, Sun Tower
Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global 128 West Pender St. Vancouver, Energy Metals”, the “Company” and/or “GEMC”) is pleased to BC announce a private placement offering of up to 4,000,000 units (the “Units”) V6B 1R8 of the Company at a price of $0.125 per Unit (the “Offering”), with each Unit T +1.604.688.4219 comprised of one share and one transferrable share purchase warrant (a TwiGer @EnergyMetals “Warrant”). Each transferrable warrant will be exercisable to purchase an addiWonal share of the Company for a period of 36 months from the closing date at a price of CAD$0.15.
STRATEGIC COMMITMENT
The Company has received strong interest in the Offering with a strategic lead commitment of $200,000.
First closing is expected within the next several days.
This financing complements the recently announced commitment by Electric RoyalWes Ltd. (“Electric RoyalWes”) that provides Global Energy Metals with an aGracWve form of financing and short term investments via the spin-out of a small royalty on its Queensland, Australian projects. The royalty also provides an opWon to fund future development at Millennium and the Mount Isa projects in a non-diluWve manner to the company and create an opportunity for cross markeWng promoWon with a strong royalty partner. For more informaWon on this significant endorsement of the Projects and collaboraWon with Electric RoyalWes please see our news releases dated February 27, 2020 and July 23, 2020.
PROCEEDS & TERMS
The net proceeds of the Offering will be used to fund the previously announced acquisiWon of an 85% interest in the Lovelock and Treasure Box projects, two highly prospecWve baGery mineral projects in Nevada with strong enrichment in nickel, copper and cobalt, as well as for business development and working capital purposes.
The Company has agreed to and may pay a finder’s fee of 8% cash and 8% broker warrants for Units sold to certain investors (“Broker Warrants”). Each Broker Warrant enWtles the holder to acquire one common share of the Com-
TSX.V GEMC
www.globalenergymetals.com
Powered by Cobalt … Driven by Demand
pany at a strike price of $0.15 for a period of one year from the date of issuance.
All securiWes to be issued pursuant to the Offering will be subject to a four month hold period from the closing date under applicable securiWes laws in Canada and among other things, receipt by Global Energy Metals of all necessary regulatory approvals, including the TSX Venture Exchange.
The securiWes issued in connecWon with the Offering have not been nor will they be registered under the United States SecuriWes Act of 1933, as amended, or state securiWes laws, and may not be offered or sold in the United States or to an account for the benefit of US persons, absent such registraWon or an exempWon from registraWon. This press release shall not consWtute an offer to sell or the solicitaWon of an offer to buy the securiWes in the United States or in any jurisdicWon in which such offer, sale, or solicitaWon would be unlawful.
Global Energy Metals Corporation (TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals provides investors and partners with exposure to the immediate need for metals criWcal to the new energy economy by building a diversified global porkolio of cobalt and baGery metals rich projects in top- Wer mining jurisdicWons with exploraWon & development upside to become a supply chain soluWon to safe and reliable cobalt for downstream partners. Global Energy Metals holds 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploraWon-stage cobalt assets in Mt. Isa, Australia. It also currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to acquire an 85% interest in two cobalt-nickel-copper exploraWon projects in Nevada, 150km East of the Tesla Gigafactory.
For Further Information:
Global Energy Metals CorporaWon #1501-128 West Pender Street Vancouver, BC, V6B 1R8 Email: [email protected]
t. + 1 (604) 688-4219 extensions 236/237 TwiGer: @EnergyMetals
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. 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.
THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER TO SELL OR A SOLICITATION OF AN OFFER TO SELL ANY OF THE SECURITIES DESCRIBED HEREIN IN THE UNITED STATES. THESE SECURITIES HAVE NOT BEEN, AND WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.