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Global Energy Metals Closes Second and Final Tranche of Non-Brokered Private Placement
(via TheNewswire) Vancouver, BC / TheNewswire / November 26, 2018 / Global Energy Meta...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Closes Second and Final Tranche of Non-Brokered Private Placement(via TheNewswire)\n\n \nVancouver, BC / TheNewswire / November 26, 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 a second and final tranche tranche of the previously announced non-brokered private placement \n\n\n \nThe second tranche consisted of 2,603,193 units (the \"Units\") at a price of $0.075 per Unit for gross proceeds of $195,239. In total 6,288,374 shares will be issued in conjunction with this financing with the Company raising an aggregate of $471,628.\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 \nAn officer of the Corporation purchased an aggregate of 400,000 Units and, accordingly, the Financing is a \"related party transaction\" within the meaning of Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The participation of the officer is exempt from the formal valuation and minority shareholder approval requirements pro...