Business
Global Energy Metals Announces Increase to Private Placement Offering and Intended Closing of First Tranche
(TheNewswire) Vancouver, BC / TheNewswire / March 7, 2022 / Globa...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Announces Increase to Private Placement Offering and Intended Closing of First Tranche\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Vancouver, BC / TheNewswire / March 7, 2022 /\n \n \n \n \n Global Energy Metals\nCorporation\n \n \n \n \n \n (\n \n \n \n \n \n TSXV:GEMC\n \n \n \n \n \n )\n \n \n \n \n |\n \n \n \n \n (\n \n \n \n \n \n OTC:GBLEF\n \n \n \n \n \n )\n \n \n \n \n |\n \n \n \n \n (\n \n \n \n \n \n FSE:5GE1\n \n \n \n \n \n )\n \n \n \n \n (“Global Energy Metals”, the\n“Company” and/or “GEMC\n \n \n \n \n ”),\n \n \n \n \n a company involved in investment exposure to the battery\nmetals supply chain, is pleased to announce that it has increased its\n \n \n \n \n \n previously announced\nnon-brokered private placement\n \n \n \n \n \n (the \"Private Placement\") to accommodate investor\ndemand, subject to acceptance of the TSX Venture Exchange.\n \n \n \n \n \n \n The Private Placement will now consist\nof a total of 5,000,000 units (the “Units”) at a price of $0.25\nper Unit for gross proceeds of up to C$1.25 million.  Each Unit will\nconsist of one common share (a \"Common Share\") in the\ncapital of the Company and one transferrable share purchase warrant (a\n“Warrant”). Each Warrant will be exercisable to purchase an\nadditional share of the Company for a period of 24 months from the\nclosing date at a price of C$0.40.  The Warrants are subject to an\nacceleration clause whereby if on any 10 consecutive trading days\noccurring after four months and one day has elapsed from the closing\ndate, the daily volume weighted average trading price of the common\nshares of the Company is at least $0.50 per share, the Company may\naccelerate the expiry date of the warrants to the 30th day after the\ndate on which the Company gives notice to the subscriber in accordance\nwith the warrant of such acceleration.\n \n \n \n \n \n \n The Company also announces that it will\nclose an initial tranche of the Private Placement (the “First\nTranche”), subject to TSX Venture Exchange approval.  In connection\nwith the First Tranche, which was supported by existing shareholders\nand insiders, including officers and a director of the Company, Global\nEnergy Metals will issue 4,220,000 Units at a price of C$0...