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Global Energy Metals Closes Tranche One of Financing; Increases Private Placement for Proceeds of up to $600,000
(via TheNewswire) Vancouver, BC - TheNewswire - September 8, 2020 - Globa...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Closes Tranche One of Financing; Increases Private Placement for Proceeds of up to $600,000(via TheNewswire)\n \n \nVancouver, BC - TheNewswire - September 8, 2020 - Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (\"Global Energy Metals\", the \"Company\" and/or \"GEMC\") is pleased to announce that the Company will close a first tranche of its non-brokered private placement financing (the \"Offering\") raising gross proceeds of $503,250. The Company will issue 4,026,000 units (\"Units\") in this first tranche closing subject to Exchange approval.\n\n\n \nDue to investor interest in the financing, the Company will look to raise an additional $100,000 in a second and final tranche of its non-brokered private placement financing for a total of up to 4,800,000 Units at $0.125 per Unit for gross proceeds of up to $600,000.\n\n\n \nAs previously announced in the news release of August 26, 2020, each Unit consists of one common share of the Company (a \"Share\") and one transferable common share purchase warrant (a \"Warrant\") with each Warrant exercisable to purchase an additional Share of the Company for a period of 36 months from the closing date (\"Closing Date\") at a price of CAD$0.15.\n\n\n \nThe net proceeds of the Offering will be used to fund the acquisition of an 85% interest in the Lovelock and Treasure Box projects, two highly prospective battery mineral projects in Nevada with strong enrichment in nickel, copper and cobalt, as well as for business development and working capital purposes.\n\n\n \nThe Company has agreed to and may pay a finder's fee of 8% cash and 8% broker warrants (\"Broker Warrants\") for Units sold to certain investors (the \"Finder's Fees). Each Broker Warrant entitles the holder to acquire one common share of the Company at a strike price of $0.15 for a period of one year from the date of issuance.\n\n\n \nFinder' Fees in the amount of $16,260 and the issuance of 130,080 Broker Warrants will be paid in connection with the first tranche closing of the private placement subject to Exchange approval.\n\n\n \nAll securities to be issued pursuant to the Offering will be subject to a four month hold period from the closing date under applicable securities laws in Canada and among other things, receipt by Global Energy Metals of all necessary regulatory approv...