Powered BY Cobalt … Driven BY Demand Global Energy Metals Closes Sale of New 1% NSR Royalty ON Norway-Based Råna Nickel Project; Provides Update ON Lovelock Drill 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
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GLOBAL ENERGY METALS CLOSES SALE OF NEW 1% NSR ROYALTY
ON NORWAY-BASED RÅNA NICKEL PROJECT; PROVIDES UPDATE
ON LOVELOCK DRILL PROGRAM
Vancouver, BC / TheNewswire / January 27, 2022 / Global Energy Metals
CorporaVon 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, is pleased to announce the
closing of the previously announced Rana Nickel Royalty acquisi Ron by
Electric RoyalRes Ltd. (“Electric RoyalRes” and/or “ELEC”). As announced in
the Company’s news releases dated October 19, 2021 and December 16,
2021, Scandinavian Resource Holdings (“SRH”) and GEMC created and agreed
to sell to Electric RoyalRes a new 1% net smelter return royalty (the “1% NSR”)
on four exploraRon licenses totaling 25 square kilometers in the Råna mafic-
ultramafic intrusion in Northern Norway, including the past producing
Bruvann Nickel mine (the “Råna Project” or “Råna”), jointly held by GEMC and
SRH.
For more informaRon on the Råna Project please visit the corresponding page
on the GEMC website linked here.
Mitchell Smith, President & CEO, Director commented:
“With bullish implica.ons for ba3ery metals from ESG friendly, safe mining
jurisdic.ons, we believe that our shareholders are well posi.oned to realize
addi.onal value from the strategic investments we’ve made to date. Råna is
just one example of mone.zing our current porEolio, as demonstrated by the
crea.on and sale of this royalty to Electric Royal.es and also by the proposed
non-dilu.ve project advancement by incoming partner Metals One plc while
we maintain a carried interest and 1% NSR of our own. In addi.on, through
increased ac.vity directed towards our strong, mul.-jurisdic.onal asset base
by our various partners as well as from our own internal efforts, we plan to
advance our high-quality porEolio and further grow the Company rapidly.”
In connecRon with closing, ELEC will issue total consideraRon of 2,000,000
common shares of the company (“ConsideraRon Shares”) and $100,000 cash
payable to GEMC and SRH in propor Ron to project ownership. The
ConsideraRon Shares will be subject to a voluntary escrow lock-up agreement
which provides that 50% of the common shares will be subject to a hold
period of 4 months and one day, 25% for 8 months and the remaining 25% for
12 months.
The transacRon remains subject to customary closing condi Rons including
final TSX-V approval.
Global Energy Metals holds a strategic 10% project level interest and 1% NSR
royalty on the Råna Project. Including Råna, GEMC holds project level
interests in 10 baGery metal projects in 4 countries across 3 conRnents, 1 net
smelter return royalty and significant equity posiRons in 3 publicly traded
companies.
As previously announced, the majority owner of Råna, SRH, recently entered
into a definiRve term sheet with Metals One plc (“Metals One”), a private U.K.
registered company that is in the process of compleRng an AIM lisRng with
targeted close this quarter . Metals One is acquiring the 90% interest in Råna
that is held by SRH through a share, cash and project level expenditure
transacRon. GEMC will maintain its 10% interest in the project and be carried
on project level expenditures of up to $1.5 million. As part of the agreement
Metals One will be commikng to a £1 million exploraRon work program
within the first 12 months with plans to release an updated resource within
the next 12 to 24 months.
Metals One is an exciRng new baGery minerals exploraRon company focused
on assets in the Scandinavian region and on the doorstep of the burgeoning
European EV market.
More detail on Metals One plc can be found at hGps://metals-one.com.
Lovelock Update:
The Company is also pleased to announce the comple Ron of the Phase 1
drilling at the Lovelock Mine project in Nevada, USA. As previously noted,
samples have been submiGed to the American Assay lab in Sparks, Nevada.
AnalyRcal laboratories in the industry conRnue to be constrained, which has
dramaRcally impacted turn-around Rmes on the order of several weeks to
months. The Company is in close contact with the lab and expects results to
be released in batches as they are received in the near future.
The Company believes that Lovelock displays potenRal for near-surface cobalt,
nickel and copper mineralisaRon and could become a significant discovery
opportunity in the highly prospecRve SRllwater IOCG region.
Timothy Strong, Project Development Manager commented:
“The ability to efficiently execute our first-ever drill program at Lovelock is an
important milestone for Global Energy Metals. As we await drill results,
planning has already begun for the next phase of explora.on. 2022 will be an
important year for the Company as we look forward to the con .nued
advancement of Lovelock and our en.re ba3ery metals rich project porEolio.”
Qualified Person
Mr . Paul Sarjeant, P . Geo., is the qualified person for this release as defined by
NaRonal Instrument 43-101 - Standards of Disclosure for Mineral Projects.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. o ffers investment exposure to the growing
rechargeable ba3ery and electric vehicle market by building a diversi fied
global porEolio of explora.on and growth-stage ba3ery mineral assets.
Global Energy Metals recognizes that the prolifera .on and growth of the
electrified economy in the coming decades is underpinned by the availability
of ba3ery metals, including cobalt, nickel, copper, lithium and other raw
materials. To be part of the solu .on and respond to this electri fica.on
movement, Global Energy Metals has taken a ‘consolidate, partner and invest’
approach and in doing so have assembled and are advancing a por Eolio of
strategically significant investments in ba3ery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt
projects in Canada, Australia, Norway and the United States, GEMC is
inves.ng-in, exploring and developing prospec .ve, scaleable assets in
established mining and processing jurisdic.ons in close proximity to end-use
markets. Global Energy Metals is targe.ng projects with low logis.cs and
processing risks, so that they can be fast tracked to enter the supply chain in
this cycle. The Company is also collabora .ng with industry peers to
strengthen its exposure to these cri .cal commodi.es and the associated
technologies required for a cleaner future.
Securing exposure to these cri.cal minerals powering the eMobility revolu.on
is a genera.onal investment opportunity. Global Energy Metals believe the the
.me to be part of this electrifica.on movement.
For Further InformaVon:
Global Energy Metals CorporaRon
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
t. + 1 (604) 688-4219
www.globalenergymetals.com
TwiGer: @EnergyMetals | @USBaGeryMetals | @ElementMinerals
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CauVonary Statement on Forward-Looking InformaVon:
Certain informa.on in this release may cons.tute forward-looking statements
under applicable securi.es laws and necessarily involve risks associated with
regulatory approvals and .melines. Although Global Energy Metals believes
the expecta.ons expressed in such forward-looking statements are based on
reasonable assump.ons, 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 .on to update these forward-looking
statements in the event that management’s beliefs, es.mates or opinions, or
other factors, should change.
GEMC’s opera.ons 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 opera.ons and the ability of others to meet
their obliga.ons, including uncertain.es rela.ng to the ul.mate geographic
spread of the virus, the severity of the disease, the dura.on of the outbreak,
and the length of travel and quaran.ne restric.ons imposed by governments
of affected countries. In addi.on, a significant outbreak of contagious diseases
in the human popula.on could result in a widespread health crisis that could
adversely affect the economies and financial markets of many countries,
resul.ng in an economic downturn that could further affect opera.ons and
the ability to finance its opera.ons.
For more informa.on 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 Regula.on 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.