States OR to U.s. News Agencies Global Energy Metals Completes Transformational
TSX.V GEMC
www.globalenergymetals.com
Suite 1501,
Sun Tower
128 West Pender St. Vancou-
ver , BC
V6B 1R8
T +1.604.688.4219
Twitter @EnergyMetals
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STATES
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GLOBAL ENERGY METALS COMPLETES TRANSFORMATIONAL
ACQUISITION TO TAKE FULL CONTROL OF MILLENNIUM
AND MOUNT ISA COBALT PROJECTS IN QUEENSLAND
AUSTRALIA
Vancouver, BC / TheNewswire / July 27, 2019 / Global Energy
Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1
(“Global Energy Metals”, the “Company” and/or "GEMC") is pleased
to announce that it has completed the acquisition from Hammer
Metals Limited (“Hammer”) of the remaining interest in the
Millennium Project that Global Energy Metals did not already own
pursuant to the share sale agreement dated November 27, 2018 (the
“Millennium Acquisition Agreement”), among the Company, Hammer
and its subsidiaries, including the acquisition of the Mount Isa
Projects, which acquisitions were previously announced by news
releases dated June 26, 2018 and November 29, 2018.
GEMC Chief Executive Officer, Mitchell Smith said:
“The outright acquisition of the Millennium Project adds to our
portfolio one of the most exciting scalable primary-cobalt projects in
the industry. With our strong understanding of the potential for the
high-grade Millennium project and surrounding land package,
together with Hammer’s extensive jurisdictional experience in Mount
Isa, positions GEMC well to bring the project closer to development
and deliver significant value to our shareholders.”
Pursuant to the terms of the Millennium Acquisition Agreement,
Global Energy Metals issued to Hammer 19,255,641 common shares
such that Hammer became an insider of Global Energy Metals holding
19.9% of the Company’s then issued and outstanding common shares.
For so long as Hammer maintains a 10% interest in Global Energy
Metals, Hammer has the right to nominate one person to the Global
Energy Metals’ board of directors.
All shares issued in connection with the acquisition of the Millennium
Project and the Mt. Isa Projects to Hammer are subject to a hold
period of four months and one day from the date of issuance of the
shares. In addition to the statutory hold period, the shares issued to
Hammer are also subject to a voluntary pooling agreement pursuant
to which 20% of the shares have been released concurrent with
closing of the transaction, 40% of the shares will be released on
December 27, 2019 and the remaining 40% will be released on June
27, 2020. Further, the agreement provides that the release of the
shares to Hammer will be accelerated in the event that the trading
price of the Company’s shares over a 10 consecutive day period
reaches certain thresholds.
Qualified Person
Mr. Paul Sarjeant, P . Geo., is the qualified person for this release as
defined by National Instrument 43-101 - Standards of Disclosure for
Mineral Projects and has reviewed and verified the technical
information contained herein.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering security of supply of
cobalt, a critical material to the growing rechargeable battery
market, by building a diversified global portfolio of cobalt assets
including project stakes, projects and other supply sources. GEMC
anticipates growing its business by acquiring project stakes in battery
metals related projects with key strategic partners. Global Energy
Metals now holds 100% of the Millennium Cobalt Project and two
neighbouring discovery stage exploration-stage cobalt assets in Mt.
Isa, Australia. It also currently owns 70% of the Werner Lake Cobalt
Mine in Ontario, Canada, has an option to acquire an 85% interest in
two cobalt exploration projects in Nevada, 150km East of the Tesla
Gigafactory.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
t. + 1 (604) 688-4219 extensions 236/237
Twitter: @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.
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WILL NOT BE, REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF
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