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Global Energy Metals Closes First Tranche of $500,000 Non-Brokered Private Placement
(via TheNewswire) Vancouver, BC / TheNewswire / November 19, 2018 / Global Energy Meta...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Closes First Tranche of $500,000 Non-Brokered Private Placement(via TheNewswire)\n\n \nVancouver, BC / TheNewswire / November 19, 2018 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (\"Global Energy Metals\", the \"Company\" and/or \"GEMC\") is pleased to announce that it has closed the first tranche of a $500,000 non-brokered private placement to strategic investors at 7.5 cents per unit for gross proceeds of $276,389. A total of 3,685,180 units will be issued to complete the first tranche. \n\n \n \nEach Unit will be comprised of one common share of the Company (a \"Share\") and one transferable common share purchase warrant (a \"Warrant\"). Each Warrant will be exercisable to purchase an additional Share of the Company for a period of 12 months from the closing date (\"Closing Date\") at a price of CAD$0.15 subject to acceleration. \n\n\n \nAll securities issued in connection with the Private Placement will be subject to a statutory hold period of 4 months plus a day from the Closing Date in accordance with applicable securities legislation. Warrants are subject to an acceleration clause whereby if 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. \n\n\n \nProceeds of the financing, which remains subject to final regulatory approval, will be used for marketing and general working capital purposes. A finder's fee is payable to qualified recipients as permitted by the TSX Venture Exchange.\n\n\n \nGlobal Energy Metals Corporation\n\n\n \n(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)\n\n\n \nGlobal Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals currently owns and is advancing the Wern...