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Global Energy Metals Announces Payment to Acquire 85 Percent Interest in Highly Prospective Nevada-Based Battery Mineral Projects
Vancouver, BC - TheNewswire - October 7, 2020 - Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) ("Global Energy Metals", the "Company" a
About this update from Global Energy Metals Corp
[{"type":"text","content":"Vancouver, BC - TheNewswire - October 7, 2020 - Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (\"Global Energy Metals\", the \"Company\" and/or \"GEMC\") is pleased to announce it has issued shares and made a cash payment as consideration for its acquisition of an 85% interest in the Lovelock Mine and Treasure Box Projects (\"Lovelock\", \"Treasure Box\" and/or the \"Properties\") located in the Stillwater Range, Churchill County, Nevada from Primus Resources L.C. (\"Primus\") and Nevada Sunrise Gold Corp. (\"Nevada Sunrise\") pursuant to the terms of an asset purchase agreement dated April 3, 2020 between Primus, Nevada Sunrise and Global Energy Metals. Mitchell Smith, President & CEO, Director comments: \"When undertaking and completing on a corporate restructuring and financing like we have in the past month it is critical to decide how the company should emerge from the onset. Not only have we held steadfast to our battery minerals focused vision for Global Energy Metals but we are even more confident in the direction critical minerals like cobalt, nickel, copper and others will take as the world transitions to clean energy technologies including vehicle electrification and new energy storage. The addition of Lovelock and Treasure Box, two Nevada-based highly prospective cobalt-nickel and cobalt-copper projects, strengthens our existing jurisdictionally safe asset portfolio and solidifies our positioning within the battery supply chain as we continue to build an investment vehicle for shareholders to gain valuable exposure to the ever increasing demand for battery minerals linked to the electro-mobility investment mega-trend.\" In connection with the acquistion of these strategic assets, the Properties will be held in GEMC's newly established U.S. Battery Metals Corp., a new U.S. listed vehicle and wholly owned subsidiary of Global Energy Metals that forms an important role in the Company's overall objective of providing its shareholders with exposure to eMobility and the trend towards energy transition, clean energy storage and associated infrastructure investment. The Nevada-based projects, located in close proximity to end-use regional battery manufacturing capacity, provide the Company and its shareholders with high-potential, growth-stage exploration projects in a well established and prove...