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Global Energy Metals Announces $500,000 Private Placement with Lead Order of $200,000
(via TheNewswire) Vancouver, BC - TheNewswire - August 26, 2020 - Global ...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Announces $500,000 Private Placement with Lead Order of $200,000(via TheNewswire)\n \n \nVancouver, BC - TheNewswire - August 26, 2020 - Global Energy Metals Corporation (TSXV:GEMC) | (OTCQB:GBLEF) | (FSE:5GE1) (\"Global Energy Metals\", the \"Company\" and/or \"GEMC\") is pleased to announce a private placement offering of up to 4,000,000 units (the \"Units\") of the Company at a price of $0.125 per Unit (the \"Offering\"), with each Unit comprised of one share and one transferrable share purchase warrant (a \"Warrant\"). Each transferrable warrant will be exercisable to purchase an additional share of the Company for a period of 36 months from the closing date at a price of CAD$0.15. \n\n\n \nSTRATEGIC COMMITMENT \n\n\n \nThe Company has received strong interest in the Offering with a strategic lead commitment of $200,000. \n\n\n \nFirst closing is expected within the next several days.\n\n\n \nThis financing complements the recently announced commitment by Electric Royalties Ltd. (\"Electric Royalties\") that provides Global Energy Metals with an attractive form of financing and short term investments via the spin-out of a small royalty on its Queensland, Australian projects. The royalty also provides an option to fund future development at Millennium and the Mount Isa projects in a non-dilutive manner to the company and create an opportunity for cross marketing promotion with a strong royalty partner. For more information on this significant endorsement of the Projects and collaboration with Electric Royalties please see our news releases dated February 27, 2020 and July 23, 2020.\n\n\n \nPROCEEDS & TERMS\n\n\n \nThe net proceeds of the Offering will be used to fund the previously announced acquisition of an 85% interest in the Lovelock and Treasure Box projects, two highly prospective battery mineral projects in Nevada with strong enrichment in nickel, copper and cobalt, as well as for business development and working capital purposes.\n\n\n \nThe Company has agreed to and may pay a finder's fee of 8% cash and 8% broker warrants for Units sold to certain investors (\"Broker Warrants\"). Each Broker Warrant entitles the holder to acquire one common share of the Company at a strike price of $0.15 for a period of one year from the date of issuance.\n\n\n \nAll securities to be issued pursuant to the Of...