Vancouver, BC / TheNewswire / April 25, 2018 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or "GEMC") is pleased to announce that further to its news release dated February 20, 2018, that it has secured DTC eligibility by The Depository Trust Company for its shares traded on the OTCQB "GBLEF" effective end of day April 24, 2018.
The DTC is a subsidiary of the Depository Trust & Clearing Corporation ("DTCC") and manages the electronic clearing and settlement of publicly traded companies. Securities that are eligible to be electronically cleared and settled through the DTC are considered "DTC eligible." This electronic method of clearing securities speeds up the receipt of stock and cash, and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms by coming into compliance with their requirements.
Being DTC eligible is expected to greatly simplify the process of trading and exchange the Company’s common stock on the OTC marketplace in the United States.
“We are pleased to have obtained DTC eligibility," said Mitchell Smith, President & CEO. "DTC eligibility simplifies the process of trading and transferring Global Energy Metals’ shares between brokerages in the United States and reduces the costs incurred in trading shares. With our shares now DTC eligible, we expect this to lead to significantly enhancing liquidity and execution speeds, as well as extending investor awareness of our Company to an even broader range of investors throughout the United States."
Global Energy Metals is advancing the Millennium Cobalt Project in the Mt. Isa district of Queensland, Australia. Drilling is ongoing with holes completed showing an extension to the cobalt bearing mineralization beneath the existing JORC resource. Following receipt of all assay results the Company will assess the data to assist with planning subsequent phases of drilling, that will further define and upgrade known mineralisation in support of a new resource estimate that will be reported as a cobalt equivalent. Global Energy also owns the high-grade Werner Lake cobalt project in Ontario Canada and has entered into a joint venture with Marquee Resources of Australia to advance that historic project with an exploration program to commence in Spring 2018.
The OTCQB Venture is the premier marketplace for entrepreneurial and development stage U.S. and international companies that are committed to providing a high-quality trading and information experience for their US investors. To be eligible, companies must be current in their financial reporting, pass a minimum bid price test, and undergo an annual company verification and management certification process. The OTCQB Venture quality standards provide a strong baseline of transparency, as well as the technology and regulation to improve the information and trading experience for investors.
U.S. investors can find current financial disclosure and Real-Time Level 2 quotes for FTE Networks at http://www.otcmarkets.com/stock/GBLEF/quote.
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
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.