// Global Battery Announces Closing of Oversubscribed $1.16 Million Non-Brokered Private Placement
1
// THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN THE UNITED STATES //
Global Battery Announces Closing of Oversubscribed $1.16 Million
Non-Brokered Private Placement
September 6, 2022 , Vancouver , British Columbia – Global Battery Metals Ltd. (the “ Company” or
“GBML”) (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), an international critical mineral
exploration and development company focussed on growth -oriented battery metal projects, is pleased to
announce it is closing its oversubscribed non-brokered private placement financing with the issuance of a
total of 11,600,000 units (the “ Units”) of the Company at a price of $0.10 per Unit for gross proceeds of
$1,160,000 (the “Private Placement”).
The Private Placement was initially announced on July 14, 2022, for up to 5,000,000 Units, upsized to up
to 7,650,000 Units , 10,000,000 Units, 11,000,000 units on August 2 nd, 15 th, and 17 th, respectively, and
finally to 11,600,000 Units, all due to significant demand. Each Unit consists of one (1) common share in
the capital of the Company (“ Share”) and one (1) Share purchase warrant (“ Warrant”), whereby each
Warrant entitles the warrant holder to acquire one (1) additional Share at a price of $0.14 until September
7, 2024, being the date that is twenty-four (24) months from the date of issuance. The Warrants are subject
to an acceleration provision , which provides that, should the closing price of the Shares be greater than
$0.30 for ten (10) consecutive trading days, the Warrants will expire thirty (30) days after the date on which
the Company provides notice of such fact to the warrant holders.
The Company plans to allocate the net proceeds of the Private Placement to exploration expenditures and
general working capital. In consideration for the introduction to the Company of investors in the Private
Placement by Canaccord Genuity Corp. (the “ Finder”), Finder’s fees consisting of a cash commission of
$9,600.00 and 96,000 finder’s warrants (the “Finder’s Warrants”) are applicable. Each Finder’s Warrant
bears the same exercise terms and expiration date as the Warrants.
All securities issuable in connection with the Private Placement are subject to a statutory four-month hold
period that expires Januar y 8, 2023. Completion of the Private Placement remains subject to receipt of
applicable regulatory approvals, including final acceptance by the TSX Venture Exchange
“The team is pleased with the market enthusiasm and active participation in this Private Placement, along
with the expressed support from senior mining executives, Company directors, and existing shareholders
to upsize,” said Michael Murphy, President and CEO of GBML. “We have a solid execution plan in place,
underscored by the strong commitment and financial backing from Company supporters. With this funding
in place, we look forward to advancing our three prospective lithium properties and our prospective
Michigan Ni/Cu properties.”
Certain insiders of the Company participated in the Private Placement acquiring an aggregate of 1,550,000
Units. Specifically, Michael Murphy, President, CEO and Director of the Company, purchased 1,000,000
Unites, Alan Matthews, Director of the Company, purchased 50,000 Units, and Craig Roberts, Director of
the Company, purchased 500,000 Units. The participation by insiders in the Private Placement constitutes
a "related party transaction" as defined under Multilateral Instrument 61 -101 Protection of Minority
Security Holders in Special Transactions (“MI 61-101”). The Company is relying on the exemptions from
the valuation and minority shareholder approval requirements of MI 61 -101 contained in sections 5.5(a)
and 5.7(1)(a) of MI 61-101, as neither the fair market value of the securities purchased by insiders, nor the
consideration for the securities paid by such insiders, exceeds 25% of the Company's market capitalization.
The Company did not file a material change report in respect of the related party transaction at least 21 days
before the closing of the Private Placement, which the Company deems reasonable in the circumstances in
order to complete the Private Placement in an expeditious manner.
2
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities
in the United States. The securities offered have not been and will not be registered under the United States
Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be
offered or sold within the United States or to, or for the account or benefit of, U.S. persons unless registered
under the U.S. Securities Act and applicable state securities laws, unless an exemption from such
registration is available.
About Global Battery Metals Ltd.
GBML is a mineral exploration company with a focus on metals that make up and support the rapid
evolution to battery power. GBML's common shares are listed on the TSX Venture Exchange and Frankfurt
Stock Exchange and quoted on the OTCQB. GBML currently has five projects: (1) an option to acquire up
to a 90% in the North -West Leinster lithium property in Ireland; (2) a 100% interest in the Lithium King
Property in Utah; (3) an option to acquire up to a 100% interest in the Lapoile lithium project in
Newfoundland; (4) an option to lease the Sawyer Camp prospective nickel-copper project in Michigan; and
(5) a 55% stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously
disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement (the “Lara Property
Option Agreement”) with GBML and Lara Exploration Ltd. to acquire the Lara copper property for staged
payments of USD$5.75 million. The Lara Property Option Agreement also provides for a 0.75% net smelter
royalty in favour of GBML.
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
Neither the 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.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains certain “forward-looking information ” and “forward-looking statements ” (collectively
“forward-looking statements ”) within the meaning of applicable securities legislation. All statements, other than
statements of historical fact, included herein, without limitation, statements relating the future operations and activities
of the Company, ar e forward -looking statements. Forward -looking statements are frequently, but not always,
identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and
similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be
achieved. Forward -looking statements in this news release relate to, among other things, closing of the Private
Placement, including the receipt of required regulatory approvals, and the use of funds therefrom. There can be no
assurance that such statements will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such statements. Forward -looking statements reflect the beliefs, opinions, and projections
on the date the statements are made and are based upon a number of assumptions and estimates that, while considered
reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social
uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or
achievements to be materially different from the results, performance or achievements that are or may be expressed
or implied by such forward -looking statements and the parties have made assumptions and estimates based on or
related to many of these factors. Such factors include, without limitation, the ability to complete proposed exploration
work given the global COVID-19 pandemic, the results of exploration, continued availability of capital, and changes
in general economic, market and business conditions. Readers should not place undue reliance on the forward-looking
statements and information contained in this news release concerning these items. Readers are urged to refer to the
Company's report s, publicly available through the Canadian Securities Administrators' System for Electronic
Document Analysis and Retrieval (SEDAR) at www.sedar.com for a more complete discussion of such risk factors
and their potential effects. The Company does not assume any obligation to update the forward-looking statements of
beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.