Global Energy Metals Terminates 7.5 Cent Financing; Launches Re-2ox Process Program in Nevada
Momentum Public Relations
Press Release: May 16, 2019
Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC “) announces that the proposed private placement announced on May 7, 2019, will not proceed at this time due to Policy 5.3 for Tier-2 Venture Issuers under Section 7.1.
As previously announced, Global Energy Metals and Canada Cobalt Works (“CCW”) have entered into a strategic technological initiative featuring the proprietary and environmentally friendly Re-2Ox Process as part of a wider exploration and drilling program that will allow for reinterpretation of historic data and a better understanding of the ability to unlock the cobalt, nickel and copper potential from GEMC’s Nevada based projects.
Figure 1 & 2. Adit entrance and site dump at Lovelock Mine, Nevada
GEMC and Canada Cobalt are pleased to report that they’ve already commenced on-site work related to Re-2OX through a reconnaissance program at Lovelock and Treasure Box. More details will be provided in the near future.
Meanwhile, initial fieldwork is demonstrating the potential to identify high-grade cobalt, nickel and copper mineralization over broader areas than originally believed at Lovelock and Treasure Box.
Qualified Person
Mr. Paul Sarjeant, P. Geo., 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 metal-related projects with key strategic partners. Global Energy Metals currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada, has an option to acquire an 85% interest in two cobalt exploration projects in Nevada, 150 km east of the Tesla-Panasonic Gigafactory 1, and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219 extensions 236/237
- Published in Global Energy Metals, Mining, News Home
Global Energy 3.38 million shares for debt
Momentum Public Relations
Press Release: May 7, 2019
The TSX Venture Exchange has accepted for filing the company’s proposal to issue 3.38 million shares at a deemed price of five cents to settle outstanding debt for $169,000.
Number of creditors: six creditors
Insiders: Doublewood Consulting Inc. (Paul Sarjeant), $52,500, 1.05 million shares at five cents; Rare Capital Corp. (Erin Campbell), $12,500, 250,000 shares at five cents; Eichbaum FRS Inc. (Luis Hadic), $20,000, 400,000 shares at five cents; Mitchell Smith, $20,000, 400,000 shares at five cents
The company shall issue a news release when the shares are issued and the debt extinguished.
- Published in Global Energy Metals, News Home
Global Energy Metals Arranges Strategic Investment from Canada Cobalt Works; Signs MOU to use Revolutionary Hydrometallurgical Process at Nevada Battery Metals Projects
Momentum Public Relations
Press Release: May 7, 2019
Global Energy Metals Corporation TSXV:GEMC |OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC “) is pleased to announce a strategic technological initiative with Canada Cobalt Works (“CCW” or “Canada Cobalt”), featuring the propriety and environmentally friendly Re-2OX Process , to accelerate the advancement of GEMC’s Lovelock Mine and Treasure Box properties in Nevada as work programs commence this month. Lovelock and Treasure Box are located in Churchill County, a 90-minute drive from the Tesla-Panasonic Gigafactory 1.
The Re-2OX Deal
GEMC and Canada Cobalt have entered into a non-binding Memorandum of Understanding (MOU) that allows for cobalt-nickel-copper-bearing mineralized material from Lovelock and Treasure Box to be put through the Re-2OX Process in order to confirm efficient battery metal extraction and create a potential battery grade test product.
Canada Cobalt will supervise the program protecting intellectual property as results flow to GEMC, and will be paid a $200,000 upfront first-stage Re-2OX fee, exclusive of sampling and lab costs to be borne by GEMC to a maximum of $100,000. The companies may broaden their relationship.
Strategic Investment
Canada Cobalt will also take an immediate equity position in GEMC, subscribing for 2,000,000 units at $0.075 per unit for total proceeds to GEMC of $150,000. Each Unit will consist of one common share and one transferable common share purchase warrant with each warrant entitling the holder thereof to acquire a common share at the exercise price of $0.10 per share for a period of 36 months from the closing date, subject to acceleration.
Mitchell Smith, CEO & Director, Comments on the agreement:
” While the future of EV’s and other green technologies is promising, North America is highly import-reliant for those critical metals that are fueling the road to electrification. Partnering with Canada Cobalt Works and utilizing their Re-2OX Process is a crucial step in unlocking the potential Lovelock and Treasure Box provide for shareholder exposure to strategically important U.S.- based battery mineral assets. Significantly, Re-2OX has allowed Canada Cobalt to become the first company in Canada’s Cobalt heartland to produce a battery grade cobalt sulphate test product with nickel-manganese-cobalt (NMC) formulations in their pipeline.”
Frank J. Basa, President and CEO of Canada Cobalt, commented: ” We are pleased to enter into a strategic relationship with the Global Energy Metals team. We have a shared objective of advancing the metallurgical understanding of GEMC’s promising Nevada based battery metal assets using Re-2OX. The very adaptable Re-2OX process has shown very high recovery rates for multiple metals and the ability to create a compound suitable for end-use in battery production.”
Re-2OX testing of material from Lovelock and Treasure Box will be part of a broader exploration work program that will allow for reinterpretation of historic data and a better understanding of the ability to unlock the cobalt, nickel and copper potential from these Nevada projects.
Other Private Placement Details
The Company intends to use the proceeds from the private placement to help fund the above-described Re-2OX Process and for further exploration activities at the Lovelock and Treasure Box projects.
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.
Closing of the strategic financing is subject to approval by the TSX Venture Exchange. All of the securities issued under this financing will be subject to a hold period of 4 months from the closing date of the offering.
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 metal-related projects with key strategic partners. Global Energy Metals currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada, has an option to acquire an 85% interest in two cobalt exploration projects in Nevada, 150 km east of the Tesla-Panasonic Gigafactory 1, and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia.
- Published in Global Energy Metals, Mining, News Home
Global Energy Metals Retains Momentum PR for Investor Relations
Momentum Public Relations
Press Release: May 1, 2019
Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF |FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC “) is pleased to announce that it has retainedMomentum Public Relations Inc. (“Momentum PR”) to provide investor relations services.
Mitchell Smith, CEO & Director commented:
” We’re delighted that Momentum PR has joined the Global Energy Metals team. Our focus over the next few months will be on exploring high priority targets at our Nevada based cobalt-nickel-copper projects and believe Momentum will play a leading role in communicating these exciting milestones. ”
Momentum PR, founded in 2008 by President and CEO, Maxence Gagne-Godbout is a Montreal-based, comprehensive provider of investor relations services, specializing in the resource industry. Momentum will assist GEMC by providing market awareness of the Company through their network of institutional investors, analysts, and retail relationships within the North American investment community.
Momentum’s services are tailored to meet the needs of small and medium-cap size companies looking to increase exposure and shareholder value.
In consideration for their services, Momentum PR will be paid a monthly fee of $8,333 for a period of six months effective May 1, 2019 and has been granted 250,000 stock options exercisable at $0.10 for a period of five years. The agreement with Momentum PR is subject to approval by the TSX Venture Exchange (the “Exchange”).
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 70% of the Werner Lake Cobalt Mine in Ontario, Canada, has an option to acquire an 85% interest in two cobalt exploration projects in Nevada, 150km East of the Tesla Gigafactory, and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
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.
- Published in Global Energy Metals, Mining, News Home
Global Energy Metals Pays Bond to Commence Exploration on Nevada Battery Metals Project
Momentum Public Relations
Press Release: April 25, 2019
Global Energy Metals Corporation TSXV:GEMC |OTCQB:GBLEF | FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC “) is pleased to announce that it has made payment to the Bureau of Land Management (“BLM”) for the required reclamation bond fee to conduct exploration work including drilling on mining claims at the Lovelock Cobalt Mine located in Churchill County, Nevada.
Global Energy has an option on two battery metal projects, the Lovelock Cobalt Mine and Treasure Box, located on the doorstep of the world’s largest lithium-ion battery production plant, the Gigafactory that Tesla Motors Ltd. and partner Panasonic Corp. have built in Nevada.
Mitchell Smith, CEO and Director stated:
” Completing this bond payment enables the Company to move forward with a staged exploration program at Lovelock that will allow for further definition of the character, size and potential of the nickel-cobalt-copper system.
We are excited about this initial phase of exploration and are very optimistic that this strategically located asset will significantly further the growth of our company.”
The exploration program will be based upon ground induced polarization surveys that defined areas of anomalous subsurface chargeability. Encouraging data collected from the geophysical work along with initial geological mapping, chip and channel sampling and prospecting refined these results, generating a number of drill ready targets that will be a focus for Global Energy Metals.
Global Energy is currently reviewing work program options and anticipates announcing details of the first phase exploration program in the near future.
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/battery metal assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metal related projects with key strategic partners. Global Energy Metals currently owns 70% of the Werner Lake Cobalt Mine in Ontario, Canada, has an option to acquire an 85% interest in two battery metal exploration projects in Nevada, 150 km east of the Tesla Gigafactory, and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219 extensions 236/237
- Published in Global Energy Metals, Mining, News Home
Global Energy Metals Closes Oversubscribed Private Placement
Momentum Public Relations
Press Release: April 12, 2019
Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF |FSE:5GE1 (“Global Energy Metals”, the “Company” and/or “GEMC “) is pleased to announce that it has closed its non-brokered private placement financing for gross proceeds in the amount of $813,500 through the issuance of 16,270,000 Units at a price of $0.05 per Unit (the “Offering Price”). This represents an oversubscription of 1,270,000 units as previously announced.
Each Unit each Unit consisted of one common share of the Company (a “Share”) and one transferable common share purchase warrant (a “Warrant”, with each Warrant entitling the holder thereof to acquire a Common Share at the exercise price of $0.10 per share for a period of 36 months from the closing date (“Closing Date”), subject to acceleration.
Insiders of the Company subscribed for an aggregate of 1,840,000 Units for gross proceeds of $92,000 under the Private Placement.
As certain insiders of Global Energy Metals participated in this Private Placement, it is deemed to be a “related party transaction” as defined under Multilateral Instrument 61-101-Protection of Minority Security Holders in Special Transactions (“MI 61-101”). The Company is exempt from the formal valuation requirement and the shareholder approval requirement of MI 61-101.
The Company intends to use the net proceeds from the offering to fund exploration and development activities at the Lovelock Mine and Treasure Box projects in Nevada, USA, as well as for 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.
In aggregate, the Company will pay cash finder’s fees of $8,700 and issue 357,200 shares to third-party finders in connection with the private placement.
Closing of the Private Placement is subject to the approval to the receipt of all necessary regulatory approvals, including the final approval of the TSX Venture Exchange.
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 70% of the Werner Lake Cobalt Mine in Ontario, Canada, has an option to acquire an 85% interest in two cobalt exploration projects in Nevada, 150km East of the Tesla Gigafactory, and has entered into an agreement to acquire 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mt. Isa, Australia .
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219 extensions 236/237
- Published in Global Energy Metals, Mining, News Home
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