Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Private Placement FOR up to $1 Million to Fund Significant Work Program at Millennium Cobalt Project
TSX.V GEMC
www.globalenergymetals.com
Suite 1501,
Sun Tower
128 West Pender St.
Vancouver, BC
V6B 1R8
T +1.604.688.4219
Twitter @EnergyMetals
Powered by Cobalt … Driven by Demand
GLOBAL ENERGY METALS ANNOUNCES PRIVATE
PLACEMENT FOR UP TO $1 MILLION TO FUND SIGNIFICANT
WORK PROGRAM AT MILLENNIUM COBALT PROJECT
NOT FOR DISSEMINATION OR DISTRIBUTION IN THE UNITED STATES AND NOT FOR
DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES
Vancouver, BC / TheNewswire / October 11, 2017 / Global Energy
Metals Corp. TSXV:GEMC | FSE:5GE1 (“Global Energy Metals”, the
“Company” and/or "GEMC") announces a non-brokered private
placement of up to $1 million (the "Private Placement") to fund the
rapid advancement of the Millennium Cobalt Project in Mt. Isa,
Australia.
Mitchell Smith, President & CEO commented:
"This funding will allow GEMC to quickly add significant value to this
important cobalt project in a key mining district."
The proceeds from the Private Placement will be used for resource
expansion and exploration drilling at the Company's recently
announced Millennium Cobalt project in Mt. Isa, Australia and be used
for general corporate and working capital requirements.
The main aims of the program have been structured to maximise drill
meterage and increase the resource tonnage and confidence of the
JORC resource categorisation from inferred to indicated. The
Company believes that the project can be grown substantially and this
work program will form the basis for further advancement.
“We look forward to working with Hammer Metals and its technical
team to continue to advance the Millennium Cobalt project,” said
Smith.“We anticipate an aggressive exploration program commencing
immediately following the closing of this offering.”
The Private Placement will consist of units ("Units") to be issued at a
price of $0.12 per Unit with each Unit consisting of one common share
and one transferable common share purchase warrant (a "Warrant").
Each Warrant will be exercisable by the holder into one common
share of the Company at a price of $0.20 per share for a period of 12
months.
The Warrants will contain an acceleration provision, whereby in the
event the daily VWAP of the common shares of GEMC is at least CAD
$0.30 per share for 10 consecutive trading days, GEMC will have the
right to accelerate the expiry date of the Warrants to the date which
is 30 days after notice is given to the holders of the warrants of the
accelerated expiry date and a news release to that effect is given.
All securities issued pursuant to this Private Placement will be subject
to a four month hold period. The Private Placement is subject to
acceptance by the TSX Venture Exchange (the "Exchange") and the
Company may pay a finders' fee in respect of certain subscribers
under the Private Placement in accordance with policies of the
Exchange.
Global Energy Metals Corporation (TSXV:GEMC | 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 currently owns and is advancing the Werner Lake Cobalt Mine
in Ontario, Canada and has entered into an agreement to earn-in to
the Millennium Cobalt Project in Mt. Isa, Australia.
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
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.