Powered BY Cobalt … Driven BY Demand Global Energy Metals Announces Non-Brokered Private Placement to Acquire and Advance Growth Stage Cobalt Exploration 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 NON-BROKERED
PRIVATE PLACEMENT TO ACQUIRE AND ADVANCE GROWTH
STAGE COBALT EXPLORATION PROJECTS
Vancouver, BC / TheNewswire / September 20, 2018 / Global
Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1
(“Global Energy Metals”, the “Company” and/or "GEMC") announces
the undertaking of a non-brokered private placement for gross
proceeds of up to CAD$500,000 (the "Private Placement" or
"Offering").
The Private Placement will consist of the issuance of a maximum of
6,666,667 units (the "Units") at a subscription price of CAD$0.075 per
Unit. Each Unit will be comprised of one common share of the
Company (a "Share") and one transferable common share purchase
warrant (a "Warrant"). Each Warrant will be exercisable to purchase
an additional Share of the Company for a period of 12 months from
the closing date ("Closing Date") at a price of CAD$0.15 subject to
acceleration.
Mitchell Smith, President & CEO commented, "This capital raise will
support the acquisition and continued advancements at the
Millennium and Mt. Isa Cobalt Projects in Australia and recently
announced Lovelock Mine and Treasure Box project in Nevada to
provide investment exposure to the growing battery metals sector
through our growing portfolio of cobalt projects in some of the
world’s best mining jurisdictions.”
The Company completed its initial phase one work program at
Millennium having reported multiple high-grade and wide intercepts
validating the geological model and confirming significant upside
potential to grow the resource base at Millennium. GEMC also
recently announced that it has entered into a binding agreement with
Hammer Metals t o a c q u i r e t h e b a l a n c e o f t h e i n t e r e s t i n t h e
Millennium Cobalt project as well as the Mt. Dorothy Cobalt Project
and the Cobalt Ridge Project (collectively the “Mt. Isa Projects”),
such that it will hold 100% of both Millennium and the Mt. Isa
Projects.
This accelerated acquisition of cobalt rich assets positions GEMC as
the region’s leading cobalt explorer/developer building a district-
scale cobalt opportunity in Queensland Australia’s Mt. Isa prolific
mining jurisdiction.
Additionally, GEMC has entered into a LOI with Nevada Sunrise Gold
Corp to acquire an 80% interest in the Lovelock Cobalt Mine and the
Treasure Box Project located in Churchill County, approximately 150
kilometres east of the Tesla Gigafactory in Sparks, Nevada. The
Nevada cobalt project acquisitions further expand GEMC’s cobalt-
related holdings building a new footprint in the US at a time when
federal orders have been made to break dependence on foreign
minerals including cobalt which tops the list of 35.
The net proceeds of the Offering will be used by the Company to fund
exploration and development activities at the Millennium Cobalt
project, for the completion of the above mentioned transactions, for
marketing initiatives as well as general working capital requirements.
All securities issued in connection with the Private Placement will be
subject to a statutory hold period of 4 months plus a day from the
Closing Date in accordance with applicable securities legislation.
Warrants are subject to an acceleration clause whereby if on any 10
consecutive Trading Days occurring after four months and one day has
elapsed from the Closing Date, the daily volume weighted average
trading price of the common shares of the Company is at least $0.20
per share, the Company may accelerate the expiry date of the
Warrants to the 30th day after the date on which the Company gives
notice to the Subscriber in accordance with the Warrant of such
acceleration. Finder's fees may be paid in connection with this
Offering. Closing of the Private Placement is subject to the approval
of the TSXV .
Qualified Person
Mr. Paul Sarjeant, P . Geo., the Company’s VP Projects and Director, is
the qualified person for this release as defined by National Instrument
43-101 - Standards of Disclosure for Mineral Projects and has reviewed
and verified the technical information contained herein.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | 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.