VANCOUVER, BC / TNW-ACCESSWIRE / JUNE 27, 2017 / GLOBAL ENERGY METALS CORP. TSXV:GEMC | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or "GEMC") is pleased to announce that, further to its news release dated June 19, 2017 the Company has closed a non-brokered private placement financing (the “Private Placement and/or the Offering”) for total gross proceeds of $217,431.
The Company has allotted and issued 1,242,465 units (the “Units”) at a price of $0.175. Each Units consists of one common share and one transferable Global Energy Metals common share purchase warrant, each transferable warrant entitling the holder to acquire one additional common share of the Company for a period of up to 12 months at a price of CAD $0.30.
The Warrants contain an acceleration provision, whereby in the event the daily VWAP of the common shares of GEMC is at least CAD $0.40 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 tot he holders of the warrants of the accelerated expiry date and a news release to that efficiency is given.
The Company intends to use the proceeds from the Private Placement for general working capital.
All securities issued in connection with the Private Placement are subject to a four-month and one-day hold period in accordance with applicable securities legislation. There were no finder’s fees paid in connection with the Offering.
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
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.