Global Battery Metals Announces Closing of $1,000,000 Non-Brokered Private Placement // THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN THE UNITED STATES //
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Global Battery Metals Announces Closing of $1,000,000
Non-Brokered Private Placement
// THIS PRESS RELEASE IS NOT INTENDED FOR RELEASE OR DISSEMINATION IN THE UNITED STATES //
May 8, 2023, Vancouver, British Columbia – Global Battery Metals Ltd. (the “Company” or “GBML”)
(TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), a critical mineral exploration company focused on
growth-oriented lithium and battery metal projects, is pleased to announce that, further to its news release
dated April 27, 2023, it is closing its non-brokered private placement financing with the issuance of a total
of 9,090,910 units (the “Units”) of the Company at a price of $0.11 per Unit for proceeds of $1,00,000.10
(the “Private Placement”).
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 $0.15 until May 11, 2025, being the date that is twenty-four (24) months from
the date of issuance.
The Company plans to allocate the proceeds of the Private Placement primarily for working capital and to
support the multi-stage drill program planned for the Leinster Lithium Project. No finder fees were paid in
connection with the Private Placement.
All securities issuable in connection with the Private Placement are subject to a statutory four-month hold
period that expires September 12, 2023. Completion of the Private Placement remains subject to receipt of
applicable regulatory approvals, including final acceptance by the TSX Venture Exchange.
Certain insiders of the Company participated in the Private Placement acquiring an aggregate of 3,000,000
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, exceed s 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.
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 an international mineral exploration and development company with a focus on m etals that
comprise and support the rapid evolution to battery power. GBML currently maintains economic interests
in four battery metal projects: (1) an option to acquire up to a 90% in the drill -ready Leinster Lithium
Property in Ireland; (2) a 100% interest in the drill-ready Lithium King Property in Utah; (3) an option to
acquire up to a 100% interest in the La Poile Lithium Project in Newfoundland; and (4) a 55% stake in
Peru-based Lara Copper Property, which has over 10,000 metres of drilling. As previ ously disclosed,
Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara
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Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. GBML
will retain a 0.75% net smelter royalty. GBML's common shares are listed on the TSX Venture Exchange
(TSXV: GBML); and the Frankfurt Stock Exchange (FSE: REZ).
GBML is an international mineral exploration and development company with a focus on metals that
comprise and support the rapid evolution to battery power. GBML currently maintains economic interests
in four battery metal projects: (1) an option to acquire up to a 90% in the drill-ready Leinster Lithium
Property in Ireland; (2) a 100% interest in the drill-ready Lithium King Property in Utah; (3) an option to
acquire up to a 100% interest in the La Poile Lithium P roject in Newfoundland; and (4) a 55% stake in
Peru-based Lara Copper P roperty, which has over 10,000 metres of drilling. As previously disclosed,
Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara
Exploration Ltd. to acquire the Lara copper property for staged payments of USD$5.75 million. GBML
will retain a 0.75% net smelter royalty. GBML's common shares are listed on the TSX Venture Exchange
(TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets (OTCQB:
REZZF).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
W: www.gbml.ca
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, are 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 statemen ts 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 a pprovals, 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, the results of
exploration, continued availability of capital, and changes in general economic, market and business
conditions, and the receipt of any required regulatory approvals. 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 reports, 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.