Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Payment to Acquire 85 Percent Interest IN Highly Prospective Nevada-Based Battery Mineral Projects
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
Powered by Cobalt … Driven by Demand
GLOBAL ENERGY METALS ANNOUNCES PAYMENT TO
ACQUIRE 85 PERCENT INTEREST IN HIGHLY PROSPECTIVE
NEVADA-BASED BATTERY MINERAL PROJECTS
Vancouver, BC / TheNewswire / October 7, 2020 / Global Energy
Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1
(“Global Energy Metals”, the “Company” and/or “GEMC”) is
pleased to announce it has issued shares and made a cash payment as
consideration for its acquisition of an 85% interest in the Lovelock
Mine and Treasure Box Projects (“Lovelock”, “Treasure Box” and/or
the “Properties”) located in the Stillwater Range, Churchill County,
Nevada from Primus Resources L.C. (“Primus”) and Nevada Sunrise
Gold Corp. (“Nevada Sunrise”) pursuant to the terms of an asset
purchase agreement dated April 3, 2020 between Primus, Nevada
Sunrise and Global Energy Metals.
Mitchell Smith, President & CEO, Director comments:
“When undertaking and completing on a corporate restructuring and
financing like we have in the past month it is critical to decide how
the company should emerge from the onset. Not only have we held
steadfast to our battery minerals focused vision for Global Energy
Metals but we are even more confident in the direction critical
minerals like cobalt, nickel, copper and others will take as the world
transitions to clean energy technologies including vehicle
electrification and new energy storage.
The addition of Lovelock and Treasure Box, two Nevada-based highly
prospective cobalt-nickel and cobalt-copper projects, strengthens our
existing jurisdictionally safe asset portfolio and solidifies our
positioning within the battery supply chain as we continue to build
an investment vehicle for shareholders to gain valuable exposure to
the ever increasing demand for battery minerals linked to the
electro-mobility investment mega-trend.”
In connection with the acquistion of these strategic assets, the
Properties will be held in GEMC’s newly established U.S. Battery
Metals Corp., a new U.S. listed vehicle and wholly owned subsidiary
of Global Energy Metals that forms an important role in the
Company’s overall objective of providing its shareholders with
exposure to eMobility and the trend towards energy transition, clean
energy storage and associated infrastructure investment.
The Nevada-based projects, located in close proximity to end-use re-
gional battery manufacturing capacity, provide the Company and its
shareholders with high-potential, growth-stage exploration projects in
a well established and proven mining district.
Figure 1. Location Map of the Lovelock Mine & Treasure Box Projects
The purchase price for the Properties is comprised of (i) a cash
payment of USD $35,000 to Primus (the “Cash Payment”), which has
now been paid; (ii) 1,000,000 Common Shares of Global Energy Metals
to Primus, at the deemed price of CDN $0.10 a share, which have now
been issued to Primus; and (iii) 750,000 Common Shares of Global
Energy Metals to Nevada Sunrise, at the deemed price of CDN $0.10 a
share, which have now been issued to Nevada Sunrise.
The Cash Payment was funded through the proceeds of the previously
announced oversubscribed non-brokered private placement.
The Shares issued to Primus and Nevada Sunrise will be subject to
voluntary escrow provisions in addition to applicable statutory and
Exchange imposed hold periods.
Please refer to the Company’s news release date April 7, 2020 f o r
more information pertaining to further details of the acquisition.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering investment exposure to
the raw materials deemed critical for the growing rechargeable
battery market, by building a diversified global portfolio of battery
mineral assets including project stakes and sector specific equity
positions. GEMC anticipates growing its business through the
acquisition and development of battery mineral projects alongside
key strategic partners. The Company holds 100% of the Millennium
Cobalt Project and two neighbouring discovery stage exploration-
stage cobalt assets in Mount Isa, Australia positioning it as a leading
cobalt-copper explorer and developer in the famed mining district in
Queensland, Australia. The Company is finalizing on the acquisition of
an 85% interest in two battery mineral projects, the Lovelock Cobalt
Mine and Treasure Box Project, located on the doorstep of the world’s
largest lithium-ion battery production plant, GigaNevada that Tesla
Motors Ltd. and partner Panasonic Corp. have built in Nevada, USA.
Additionally, the Company holds a 70% interest in the past-producing
Werner Lake Cobalt Mine project in Ontario, Canada.
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 | @USBatteryMetals
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.