Powered by Cobalt … Driven by Demand GLOBAL ENERGY METALS ANNOUNCES EFFECTIVE DATE OF SHARE CONSOLIDATION
Vancouver, BC / TheNewswire / August 20, 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") announces the BC implementaMon of a previously announced consolidaMon (the V6B 1R8 “ConsolidaMon”) of all the issued and outstanding share capital on a 10 old for T +1.604.688.4219 1 new basis effecMve August 25, 2020 (the “EffecMve Date”).
TwiGer @EnergyMetals
The post-ConsolidaMon common shares will commence trading on the TSX Venture Exchange (“TSXV”) under same name and Mcker symbol (GEMC) on August 25, 2020, at which Mme the CUSIP and ISIN numbers of the Company will change to 37890Y308 and CA37890Y3086, respecMvely.
The Company believes that the ConsolidaMon will be beneficial to the Company in that it is expected to, among other things, provide the Company with greater flexibility in aGracMng financing, strategic partners and ongoing investment, and as such, is in the best interest of the Company.
Upon compleMon of the ConsolidaMon, the number of common shares issued and outstanding as of August 25, 2020 have been consolidated from 97,301,171 to 9,730,117. As previously announced, no fracMonal Common Shares will be issued in connecMon with the Share ConsolidaMon. The exercise price and the number of Shares issuable under the Company's outstanding warrants and stock opMons will be proporMonately adjusted to reflect the ConsolidaMon in accordance with the respecMve terms thereof. FracMonal common shares will not be issued, and no cash will be paid in lieu of fracMonal post-ConsolidaMon common shares. The number of post-consolidaMon common shares to be received by a shareholder will be rounded down to the nearest whole common share.
Registered shareholders will be mailed a leGer of transmiGal from the Company’s transfer agent, Computershare Investor Services Inc., providing instruc- Mons regarding how to exchange their pre-consolidaMon Common Shares (represented either by Direct RegistraMon System (DRS) advice statements or share cerMficates) for new DRS advice statements represenMng the post-consolidaMon Common Shares to which they are enMtled as a result of the ConsolidaMon. UnMl surrendered to the transfer agent, each share cerMficate represenMng old pre-consolidaMon shares will be deemed to represent the num-
TSX.V GEMC
www.globalenergymetals.com
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ber of new whole post-consolidaMon Common Shares, as the case may be, to which the holder is enMtled as a result of the ConsolidaMon. Non-registered shareholders holding their Common Shares through a bank, broker or other nominee are encouraged to contact their nominee for further informaMon.
This proposed consolidaMon does not change a shareholder’s proporMonate ownership interest in the Company.
The proposed ConsolidaMon has been approved and authorized by Global Energy’s board of directors as permiGed by the Issuer's arMcles of incorporaMon which authorizes the board of directors to approve certain changes to the Issuer's capital structure, including the ConsolidaMon.
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 criMcal to the new energy economy by building a diversified global porholio of cobalt and baGery metals rich projects in top- Mer mining jurisdicMons with exploraMon & development upside to become a supply chain soluMon to safe and reliable cobalt for downstream partners. Global Energy Metals holds 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploraMon-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 exploraMon projects in Nevada, 150km East of the Tesla Gigafactory.
For Further Information:
Global Energy Metals CorporaMon #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.