GEMC.V · 2020-03-10 12:00:00

Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Restructuring Providing PATH Forward to Advance High-Potential, Growth-Stage Nickel- Cobalt-Copper Projects IN Nevada

Corporate Updates

TSX.V GEMC 

www.globalenergymetals.com

Suite 1501,

Sun Tower

128 West Pender St. Vancouver,

V6B 1R8

T +1.604.688.4219

TwiGer @EnergyMetals

GLOBAL ENERGY METALS ANNOUNCES

RESTRUCTURING PROVIDING PATH FORWARD TO

ADVANCE HIGH-POTENTIAL, GROWTH-STAGE NICKEL-

COBALT-COPPER PROJECTS IN NEVADA

Vancouver, BC / TheNewswire / March 10, 2020 / Global Energy

Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global

Energy Metals”, the “Company” and/or "GEMC") announces that it

plans to complete a share consolidaMon (the "ConsolidaMon") on the basis of

ten (10) exisMng common shares (the "Shares") for one (1) post-ConsolidaMon

Share. CompleMon of the ConsolidaMon will be subject to TSX Venture

Exchange approval.

A consolidaMon of the Global Energy’s share capital will beGer posiMon the

Company to raise the funds it requires to ﬁnance its ongoing business

acMviMes including the exploraMon and development of its projects, fast-track

its majority ownership into Lovelock and Treasure Box projects - the Nevada-

based baGery minerals assets, aGract strategic partners and ongoing

investment, and as such, is in the best interest of the Company.

Global Energy’s management believes that advancing the Lovelock and Trea-

sure Box projects to earn its 85% interest in the Nevada based assets provides

the Company with high-potenMal, growth-stage exploraMon projects in an es-

tablished mining district. AddiMonally it provides a path forward to develop a

domesMc supply of baGery metals criMcal to naMonal and economic security at

a Mme when the importance of domesMc mineral independence is recognized

and being invested in by both corporate and government bodies.

As previously announced, the Company anMcipates focusing its follow-up

exploraMon program on the Cobalt-Nickel Discovery Area central to the past-

producing Lovelock Mine.

Given the very large exploraMon area, producing a property-wide geological

interpretaMon and model of the structures and mineralizaMon is an immediate

priority and integral to an inaugural 2020 drill program that will allow for

reinterpretaMon of historic data and a beGer understanding of the ability to

unlock the cobalt, nickel and copper potenMal from GEMC’s Nevada-based

projects.

Proposed Consolidation

The Company currently has 97,301,171 Shares issued and outstanding and

acer compleMon of the ConsolidaMon will have approximately 9,730,117

common shares issued and outstanding.

The exercise price and the number of Shares issuable under the Company's

outstanding warrants and stock opMons will be proporMonately adjusted to

reﬂect the ConsolidaMon in accordance with the respecMve terms thereof.

FracMonal common shares will not be issued, and no cash will be paid in lieu

of fracMonal post- consolidaMon common shares. The number of post-

consolidaMon common shares to be received by a shareholder will be rounded

down to the nearest whole common share.

This proposed consolidaMon does not change a shareholder’s proporMonate

ownership interest in the Company.

The proposed ConsolidaMon has been approved and authorized by Global

Energy’s board of directors.

The Issuer's arMcles of incorporaMon authorize the board of directors to

approve certain changes to the Issuer's capital structure, including the

consolidaMon. As such, shareholder approval is not required. The

consolidaMon is subject to approval by the TSX Venture Exchange. In

parMcular, the Company will be required to meet the Exchange’s conMnued

lisMng requirements upon compleMon of a consolidaMon. There is no

guarantee that Exchange acceptance of a consolidaMon will be given or that

the Company will meet the Exchange’s conMnued lisMng requirements upon

compleMon. Should the Board of Directors proceed to eﬀect the

consolidaMon, a further news release will be issued announcing the eﬀecMve

date for the consolidaMon and a LeGer of TransmiGal will be mailed to the

Company’s registered shareholders, which shareholders can use to exchange

their current share cerMﬁcates for cerMﬁcates represenMng the consolidated

number of shares. No acMon will be required to eﬀect consolidaMon of

beneﬁcially held securiMes by non-registered shareholders, who hold

securiMes of the Company through an intermediary.

The Company does not intend to change its name or its current trading

symbol in connecMon with the proposed share consolidaMon.

Global Energy Metals Corporation

(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)

Global Energy Metals provides investors and partners with exposure to the

immediate need for metals criMcal to the new energy economy by building a

diversiﬁed global poriolio of cobalt and baGery metals rich projects in top-

Mer mining jurisdicMons with exploraMon & development upside to become a

supply chain soluMon to safe and reliable cobalt for downstream partners.

Global Energy Metals holds 100% of the Millennium Cobalt Project and two

neighbouring discovery stage exploraMon-stage cobalt assets in Mt. Isa,

Australia. It also currently owns 70% of the Werner Lake Cobalt Mine in

Ontario, Canada and has entered into an agreement to acquire an 85%

interest in two cobalt-nickel-copper exploraMon projects in Nevada, 150km

East of the Tesla Gigafactory.

For Further Information:

Global Energy Metals CorporaMon

#1501-128 West Pender Street

Vancouver, BC, V6B 1R8

Email: [email protected]

t. + 1 (604) 688-4219 extensions 236/237

TwiGer: @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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