OR to U.s. News Agencies Global Energy Metals Corporation
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GLOBAL ENERGY METALS CORPORATION
T. +1.604.688.4219 [email protected] Twitter: @EnergyMetals
www.GlobalEnergyMetals.com
GLOBAL ENERGY METALS ANNOUNCES COMPLETION OF OVERSUBSCRIBED
CONCURRENT FINANCING AND LISTING
VANCOUVER, BC / TNW-ACCESSWIRE / MARCH 1, 2017 / GLOBAL ENERGY METALS
CORP. (“Global Energy Metals”, the “Company” and/or "GEMC") is pleased to announce its
listing on the TSX Venture Exchange and that it has closed and oversubscribed its previously
announced non-brokered private placement of Units at a price of C$0.15 per Unit (the
“Concurrent Financing”).
The Company issued 8,433,333 units (“Units”) at a price of $0.15 per Unit for gross proceeds of
CAD $1,265,000, exceeding the maximum offering of CAD $1,100,000 as set out in the
Company’s press release dated February 15, 2017.
"This is an exciting time for the battery metals and cobalt material sector with demand
outstripping supply and battery manufactures scrambling to secure their supply chains,” said
Mitchell Smith, President and CEO of Global Energy Metals Corp. "Our financing's success
demonstrates investor confidence in Global Energy Metals’ approach and position as a
Canadian leader in what is becoming a very robust cobalt market. Funds raised will accelerate
corporate growth through advancement of its Canadian primary cobalt project along with
anticipated further acquisitions into advanced cobalt assets.”
Effective at the opening on Wednesday, March 1, 2017, the common shares of the Company
commenced trading on the TSX Venture Exchange under the symbol GEMC.
The Units offered under the Concurrent Financing each consist of one (1) Global Energy Metals
common share and one (1) Global Energy Metals common share purchase warrant, each
warrant entitling the holder to acquire one (1) additional common share of the Company at a
price of CAD $0.30 until March 1, 2018. The Warrants contain an acceleration provision,
whereby in the event the daily volume weighted average trading price (the "VWAP") of the
common shares of GEMC is at least CAD $0.40 per share for 10 consecutive trading days,
GEMC will have the right to accelerate the expiry date of the Warrants to the date which is 30
days after notice is given to the holders of the warrants of the accelerated expiry date and a
news release to that effect is given.
In accordance with applicable securities legislation and the policies of the TSX Venture
Exchange, all securities issued under the Concurrent Financing are subject to a hold period until
July 2, 2017.
Global Energy Metals paid finder's fees of $95,250 in cash, and also issued 300,000 finder’s
warrants exercisable into common shares at a price of at CAD $0.20 until March 1, 2018 in
accordance with the TSX-V policies.
Global Energy Metals Corporation:
Global Energy Metals is an aggregator of primary cobalt and other battery metals projects and
other supply, providing supply to the market demand for the growing rechargeable battery
market. GEMC anticipates growing its business by acquiring project stakes in battery metals
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2
related projects with key strategic partners. GEMC currently owns the Werner Lake Cobalt
Mine in Ontario, Canada.
For Further Information:
Global Energy Metals Corp.
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
t. + 1 (604) 688-4219 Extension 236/237
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.
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.
We seek safe harbour.