Global Energy Metals Arranges Non-Brokered Private Placement for Phase One Exploration Program at Prospective Battery Metals Projects in Nevada

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[{"type":"text","content":"Global Energy Metals Arranges Non-Brokered Private Placement for Phase One Exploration Program at Prospective Battery Metals Projects in Nevada(via TheNewswire)\n \n \nVancouver, BC / TheNewswire / April 4, 2019 - Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (\"Global Energy Metals\", the \"Company\" and/or \"GEMC\") is pleased to announce that the Company has arranged a non-brokered private placement with strategic investors for gross proceeds of up to CAD$500,000 to immediately advance its Lovelock and Treasure Box properties in Nevada. First closing is expected within the next several days. \n\n\n \nThe private placement will consist of the issuance of a maximum of 10,000,000 units at a subscription price of $0.05 per unit. Each unit will comprise one common share of the Company and one transferable common share purchase warrant. Each 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 $0.10, subject to acceleration. \n\n\n \nIf on any 10 consecutive trading days occurring after four months and one day has elapsed from the closing date, the daily volume weighted average trading price of the common shares of the Company is at least $0.20 per share, the Company may accelerate the expiry date of the warrants to the 30th day after the date on which the Company gives notice to the subscriber in accordance with the warrant of such acceleration. Finder's fees may be paid in connection with this offering. Closing of the private placement is subject to the approval of the TSXV. \n\n\n \nDebt Settlement\n\n\n \nThe Company's board of directors has approved the settlement of up to $181,500 of debt through the issuance of common shares of the Company (the \"Debt Settlement\"). Pursuant to the debt settlement, the Company would issue up to 3,630,000 common shares of the Company at a deemed price of $0.05 per share to certain creditors of the Company, including certain of its directors and officers (the \"Creditors\").\n\n\n \nThe issuance of the shares to the creditors is subject to the approval of the TSX Venture Exchange. All securities issued will be subject to a four month hold period which will expire on the date that is four months and one day from the date of issue.\n\n\n \nAs certain insiders participated in the debt settlem...

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