United States/ Global Energy Metals Announces Closing of Upsized Private Placement
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DISTRIBUTION OR DISSEMINATION DIRECTLY, OR INDIRECTLY, IN WHOLE OR IN P ART, IN OR INTO THE
UNITED STATES/
GLOBAL ENERGY METALS ANNOUNCES CLOSING OF UPSIZED PRIVATE
PLACEMENT
Vancouver, BC / TheNewswire / July 22, 2024 / Global Energy Metals CorporaNon TSXV:GEMC
| OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals” , the “Company” and/or “GEMC”), a mul’-
jurisdic’onal, mul’-commodity cri’cal mineral explora’on and development and project
genera’ng company focused on growth-oriented projects suppor’ng the global transi’on to
clean energy, is pleased to announce that, further to its news releases dated July 16, 2024 and
July 17, 2024, it intends to close, subject to TSX Venture Exchange approval, its previously
announced upsized non-brokered private placement (the "O ffering" and/or “Private
Placement”) of units of the Company (the "Units") at a price of $0.03 per Unit. Each Unit
consists of one common share in the capital of the Company (a "Share") and one-half of one
transferable Share purchase warrant (each whole warrant, a "Warrant"). Each Warrant en’tles
the holder thereof to purchase one addi’onal Share (a "Warrant Share") at a price of $0.05 per
Warrant Share for a period of 24 months from the date of issuance, subject to accelerated
expiry as outlined below. The total amount of the Private Placement consists of 21,650,000
Units for aggregate gross proceeds of $649,500.
CommenNng on the Offering, CEO and President Mitchell Smith said:
"I am very pleased by the response to our recently announced private placement financing. To
accommodate several exis:ng strategic investors, we were pleased to increase the offering and
close on this upsized financing."
If on any 10 consecu’ve Trading Days occurring a[er four months and one day has elapsed from
the Closing Date, the daily volume weighted average trading price of the common shares of the
Company is at least $0.10 per share, the Company may accelerate the expiry date of the
Warrants to the 30th day a[er the date on which the Company gives no’ce to the Subscriber in
accordance with the Warrant of such accelera’on.
The Company intends to use the net proceeds of the Offering for general corporate purposes,
explora’on ac’vi’es, and project holding costs. It is expected the majority of the proceeds will
be used for general corporate purposes with no other specific use represen’ng 10% or more of
the gross proceeds of the Offering. None of the proceeds from the Offering will be used for
payments to non-arm's length par’es of the Company other than normal course compensa’on
of its officers, directors, employees and consultants as part of general corporate purposes, or to
persons conduc’ng investor rela’ons ac’vi’es.
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In connec’on with the closing, insiders of the Company subscribed for a total of 17,533,333
Units, for a subscrip’on price of $526,000, under the Private Placement (the "Insider
Subscrip’on"). The Insider Subscrip’on cons’tutes a "related party transac’on" within the
meaning of Mul’lateral Instrument 61-101 - Protec’on of Minority Security holders in Special
Transac’ons ("MI 61-101"). The Company has relied on the exemp ’ons from the formal
valua’on and minority shareholder approval requirements of MI 61-101 contained in Sec’ons
5.5(a) and 5.7(1)(a), respec’vely, in respect of the Insider Subscrip’on as the fair market value
of the Units issued to insiders in connec’on with the Private Placement does not exceed 25% of
the market capitaliza’on of the Company, as determined in accordance with MI 61- 101. The
Company did not file a material change report in respect of the related party transac’on 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 expedi’ous manner .
All references to currency in this news release are to Canadian currency.
This news release shall not cons:tute an offer to sell or the solicita:on of an offer to buy the
securi:es in the United States nor shall there be any sale of the securi:es in any jurisdic:on in
which such offer, solicita:on or sale would be unlawful. The securi:es have not been and will not
be registered under the United States Securi:es Act of 1933, as amended (the "1933 Act"), or
any state securi:es laws and may not be offered or sold in the United States unless registered
under the 1933 Act and any applicable securi:es laws of any state of the United States or an
applicable exemp:on from the registra:on requirements is available.
For Further InformaNon:
Global Energy Metals Corpora’on
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twimer: @EnergyMetals | @USBa:eryMetals | @ElementMinerals
Global Energy Metals CorporaNon
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growing rechargeable baOery and
electric vehicle market by building a diversified global porQolio of explora:on and growth-stage
baOery mineral assets.
Global Energy Metals recognizes that the prolifera:on and growth of the electrified economy in
the coming decades is underpinned by the availability of baOery metals, including cobalt, nickel,
copper, lithium and other raw materials. To be part of the solu :on and respond to this
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electrifica:on movement, Global Energy Metals has taken a ‘consolidate, partner and invest’
approach and in doing so have assembled and are advancing a por Qolio of strategically
significant investments in baOery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt projects in Canada,
Australia, Norway and the United States, GEMC is inves :ng-in, exploring and developing
prospec:ve, scaleable assets in established mining and processing jurisdic:ons in close proximity
to end-use markets. Global Energy Metals is targe:ng projects with low logis:cs and processing
risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also
collabora:ng with industry peers to strengthen its exposure to these cri:cal commodi:es and
the associated technologies required for a cleaner future.
Securing exposure to these cri :cal minerals powering the eMobility revolu :on is a
genera:onal investment opportunity. Global Energy Metals believes Now is the Time to be part
of this electrifica:on movement.
CauNonary Statement on Forward-Looking InformaNon:
Certain informa:on in this release may cons:tute forward-looking statements under applicable
securi:es laws and necessarily involve risks associated with regulatory approvals and :melines.
Although Global Energy Metals believes the expecta:ons expressed in such forward-looking
statements are based on reasonable assump:ons, such statements are not guarantees of future
performance and actual results or developments may di ffer materially from those in the
forward-looking statements. Except as required by law, the Company undertakes no obliga:on
to update these forward-looking statements in the event that management’s beliefs, es:mates
or opinions, or other factors, should change.
GEMC’s opera:ons could be significantly adversely affected by the effects of a widespread
global outbreak of a contagious disease, including the recent outbreak of illness caused by
COVID-19. It is not possible to accurately predict the impact COVID-19 will have on opera:ons
and the ability of others to meet their obliga :ons, including uncertain:es rela:ng to the
ul:mate geographic spread of the virus, the severity of the disease, the dura :on of the
outbreak, and the length of travel and quaran :ne restric:ons imposed by governments of
affected countries. In addi:on, a significant outbreak of contagious diseases in the human
popula:on could result in a widespread health crisis that could adversely affect the economies
and financial markets of many countries, resul:ng in an economic downturn that could further
affect opera:ons and the ability to finance its opera:ons.
For more informa:on 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 Regula:on 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.
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We seek safe harbour.