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Global Energy Metals Announces Restructuring Providing Path Forward to Advance High-Potential, Growth-Stage Nickel-Cobalt-Copper Projects in Nevada
(via TheNewswire) Vancouver, BC - TheNewswire - March 10, 2020 / Global E...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Announces Restructuring Providing Path Forward to Advance High-Potential, Growth-Stage Nickel-Cobalt-Copper Projects in Nevada(via TheNewswire)\n \n \nVancouver, BC - TheNewswire - March 10, 2020 / Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (\"Global Energy Metals\", the \"Company\" and/or \"GEMC\") announces that it plans to complete a share consolidation (the \"Consolidation\") on the basis of ten (10) existing common shares (the \"Shares\") for one (1) post-Consolidation Share. Completion of the Consolidation will be subject to TSX Venture Exchange approval. \n\n\n \nA consolidation of the Global Energy's share capital will better position the Company to raise the funds it requires to finance its ongoing business activities including the exploration and development of its projects, fast-track its majority ownership into Lovelock and Treasure Box projects - the Nevada-based battery minerals assets, attract strategic partners and ongoing investment, and as such, is in the best interest of the Company.\n\n\n \nGlobal Energy's management believes that advancing the Lovelock and Treasure Box projects to earn its 85% interest in the Nevada based assets provides the Company with high-potential, growth-stage exploration projects in an established mining district. Additionally it provides a path forward to develop a domestic supply of battery metals critical to national and economic security at a time when the importance of domestic mineral independence is recognized and being invested in by both corporate and government bodies.\n\n\n \nAs previously announced, the Company anticipates focusing its follow-up exploration program on the Cobalt-Nickel Discovery Area central to the past-producing Lovelock Mine. \n\n\n \nGiven the very large exploration area, producing a property-wide geological interpretation and model of the structures and mineralization is an immediate priority and integral to an inaugural 2020 drill 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.\n\n\n \nProposed Consolidation\n\n\n \nThe Company currently has 97,301,171 Shares issued and outstanding and after completion of the Consolidation will have approximately 9,730,117 common ...