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Global Energy Metals Announces Above-Market Private Placement
(TheNewswire) Vancouver, BC - TheNewswire - July 20, 2023 - Global Energy Metals Corpor...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Announces Above-Market Private Placement \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC - TheNewswire - July\n20, 2023 -\n \n \n Global Energy\nMetals Corporation\n \n \n (\n \n \n TSXV:GEMC\n \n \n ) (\n \n \n OTC:GBLEF\n \n \n )\n \n \n (\n \n \n FSE:5GE1\n \n \n )\n \n \n (“Global Energy Metals”, the\n“Company” and/or “GEMC”)\n \n \n , a\nmulti-jurisdictional, multi-commodity critical mineral exploration and\ndevelopment company focused on growth-oriented battery metal projects\nsupporting the global transition to clean energy, is pleased to\nannounce that it intends to sell on a non-brokered private placement\nbasis, an aggregate of 3,000,000 common shares of the Company (the\n\"Common Shares\") at an above-market price of C$0.10 per\nCommon Share for gross proceeds of C$300,000  (the\n\"Offering\").\n \n \n \n \n It is anticipated that Gleason & Sons LLC along\nwith directors and officers of Global Energy Metals will acquire\nCommon Shares under the Offering. The subscription of Common Shares to\ninsiders pursuant to the Offering is considered a related party\ntransaction for the purposes of Multilateral Instrument 61-101 -\nProtection of Minority Shareholders in Special Transactions (\"MI\n61-101\"). The Company intends to rely on exemptions from the\nformal valuation and minority shareholder approval requirements\nprovided under sections 5.5(a) and 5.7(a) of MI 61-101 in respect of\nsuch insider participation, based on the determination that fair\nmarket value of the participation in the Offering by insiders will not\nexceed 25% of the market capitalization of Global Energy Metals, as\ndetermined in accordance with MI 61-101.\n \n \n \n \n The Company anticipates closing of the Offering as soon\nas practicable and is subject to receipt of all necessary regulatory\napprovals including the TSX Venture Exchange. The net proceeds from\nthe sale of the Common Shares will be used for project evaluation and\nfor working capital and general corporate purposes. The Common Shares\nwill be issued on a private placement basis pursuant to exemptions\nfrom prospectus requirements under applicable securities laws and will\nbe subject to a statutory hold period of four months and one day from\nthe ...