Powered by Cobalt … Driven by Demand GLOBAL ENERGY METALS ANNOUNCES REPRICING OF WARRANTS AND WARRANT INCENTIVE PROGRAM
TSX.V GEMC
www.globalenergymetals.com
Suite 1501,
Sun Tower
128 West Pender St. Vancouver,
BC
V6B 1R8
T +1.604.688.4219
TwiGer @EnergyMetals
Powered by Cobalt … Driven by Demand
GLOBAL ENERGY METALS ANNOUNCES REPRICING OF WARRANTS
AND WARRANT INCENTIVE PROGRAM
Vancouver, BC / TheNewswire / December 19, 2022 / Global Energy Metals
CorporaQon TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy
Metals” , the “Company” and/or “GEMC”), a company involved in investment
exposure to the baGery metals supply chain, announces that it intends to
reprice an aggregate of 13,506,500 outstanding common share purchase
warrants (“Warrants”) issued pursuant to three private placements that
closed September 2020, May 2021 and March 2022 with Warrant expiraTon
dates in September 2023, May 2024, and March 2024 (the “Warrant
Amendments”).
The following is a schedule of the Warrants that are proposed to be repriced
to $0.08:
The Company believes that the repricing of the amended Warrants is
reasonable and necessary in the context of the overall market, as it increases
the likelihood that any addiTonal near term cash needs of the Company could
be financed through the exercise of the amended Warrants.
The Warrants as amended, will be subject to an accelerated expiry provision
such that if, for any 10 consecuTve trading days (the “Premium Trading Days”)
during the unexpired term of the Warrants, the closing price of the common
Warrants
Outstanding
Original
Warrant
Exercise
Price
Amended
Warrant
Exercise
Price
Expiry
Date Issued
September 9,
2020
1,616,000 0.15 $0.08 September 8,
2023
September 28,
2020
2,608,000 0.15 $0.08 September 27,
2023
May 13, 2021 3,480,000 0.30 $0.08 May 12, 2023
May 14, 2021 920,000 0.30 $0.08 May 13, 2023
March 25, 2022 4,220,000 0.40 $0.08 March 7, 2024
March 25, 2022 662,500 0.40 $0.08 March 24, 2024
shares (“Common Shares”) exceeds $0.10, represenTng the amended Warrant
exercise price of $0.08 plus 25%, the exercise period of the warrants will be
reduced to thirty (30) calendar days (the “AcceleraTon Clause”). The Company
will announce any such accelerated expiry date by press release, and the 30-
day period will commence 7 days a_er the last Premium Trading Day. All
other terms of the Warrants remain unchanged.
Any insiders of the Company who parTcipated as to more than 10% in the
financing in which the Warrants were issued will be subject to a limit of 10%
of their holdings being repriced on a pro rata basis in accordance with the
policies of the TSX Venture Exchange (the “Exchange”). All other terms of the
Warrants remain unchanged.
The Warrant Amendments are subject to acceptance by the Warrant holders
and approval of the Exchange (the “Warrant Amendment Approval”).
The Company also announces that if it obtains Warrant Amendment Approval,
the Company will ins Ttute a warrant exercise incen Tve program (the
"IncenTve Program") designed to encourage the early exercise of 13,506,500
Warrants. Under the Incen Tve Program, the Company will o ffer an
inducement to each Warrant holder that exercises their Warrants for a period
of 30 days from receipt of Warrant Amendment Approval (the "Early Exercise
Period"), by the issuance of one addiTonal common share purchase warrant
(an "IncenTve Warrant") for each Warrant exercised during the 30 day period
of the IncenTve Program. Each IncenTve Warrant will enTtle the holder to
purchase one addiTonal Common Share for a period of 12 months from the
date of issuance of such IncenTve Warrant, at a price of $0.15.
The IncenTve Program will commence upon receipt of Warrant Amendment
Approval and it will expire 30 days therea_er at 4:00 p.m. (Vancouver Tme).
The IncenTve Warrants will be subject to a four month hold period from the
date of issuance and will include a warrant acceleraTon provision by which
the Company will be permiGed to accelerate the expiry date of the IncenTve
Warrants if the closing price of the Company's Common Shares on the
Exchange remains at or above $0.20 for a period of ten consecuTve days (the
"AcceleraTon Event"). In the event the Company exercises the AcceleraTon
Event (by disseminaTng a news release advising of the AcceleraTon Event),
holders will have 30 days to exercise the IncenTve Warrants, a_er which the
unexercised IncenTve Warrants will be void and of no effect.
The Company intends to issue an upda Tng news release upon receipt of
Warrant Amendment approval and commencement of the IncenTve Program
outlining the terms and condiTons and the method of exercising the Warrants
pursuant to the IncenTve Program.
The IncenTve Program remains subject to Exchange Approval.
Global Energy Metals CorporaQon
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. o ffers investment exposure to the growing
rechargeable ba<ery and electric vehicle market by building a diversi fied
global por@olio of exploraBon and growth-stage ba<ery mineral assets.
Global Energy Metals recognizes that the prolifera Bon and growth of the
electrified economy in the coming decades is underpinned by the availability
of ba<ery metals, including cobalt, nickel, copper, lithium and other raw
materials. To be part of the solu Bon and respond to this electri ficaBon
movement, Global Energy Metals has taken a ‘consolidate, partner and invest’
approach and in doing so have assembled and are advancing a por @olio of
strategically significant investments in ba<ery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt
projects in Canada, Australia, Norway and the United States, GEMC is
invesBng-in, exploring and developing prospec Bve, scaleable assets in
established mining and processing jurisdicBons in close proximity to end-use
markets. Global Energy Metals is targeBng projects with low logisBcs and
processing risks, so that they can be fast tracked to enter the supply chain in
this cycle. The Company is also collabora Bng with industry peers to
strengthen its exposure to these cri Bcal commodiBes and the associated
technologies required for a cleaner future.
Securing exposure to these criBcal minerals powering the eMobility revoluBon
is a generaBonal investment opportunity. Global Energy Metals believes Now
is the Time to be part of this electrificaBon movement.
For Further InformaQon:
Global Energy Metals CorporaTon
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
t. + 1 (604) 688-4219
www.globalenergymetals.com
TwiGer: @EnergyMetals | @USBaGeryMetals | @ElementMinerals
CauQonary Statement on Forward-Looking InformaQon:
Certain informaBon in this release may consBtute forward-looking statements
under applicable securiBes laws and necessarily involve risks associated with
regulatory approvals and Bmelines. Although Global Energy Metals believes
the expectaBons expressed in such forward-looking statements are based on
reasonable assumpBons, 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 obliga Bon to update these forward-looking
statements in the event that management’s beliefs, esBmates or opinions, or
other factors, should change.
GEMC’s operaBons 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 operaBons and the ability of others to meet
their obligaBons, including uncertainBes relaBng to the ulBmate geographic
spread of the virus, the severity of the disease, the duraBon of the outbreak,
and the length of travel and quaranBne restricBons imposed by governments
of affected countries. In addiBon, a significant outbreak of contagious diseases
in the human populaBon could result in a widespread health crisis that could
adversely affect the economies and financial markets of many countries,
resulBng in an economic downturn that could further affect operaBons and
the ability to finance its operaBons.
For more informaBon 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 RegulaBon 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.