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Global Energy Metals Closes Tranche One of Financing; Prepares for Inaugural Drill Campaign at Nevada-Based Copper Cobalt Nickel Project
(TheNewswire) Vancouver, BC - TheNewswire - May 6, 2020 - Global ...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Closes Tranche One of Financing; Prepares for Inaugural Drill Campaign at Nevada-Based Copper Cobalt Nickel Project\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Vancouver, BC - TheNewswire - May 6, 2020 -\n \n \n \n \n Global Energy Metals\nCorporation\n \n \n \n \n \n (\n \n \n \n \n \n TSXV:GEMC\n \n \n \n \n \n )\n \n \n \n \n |\n \n \n \n \n (\n \n \n \n \n \n OTC:GBLEF\n \n \n \n \n \n )\n \n \n \n \n |\n \n \n \n \n (\n \n \n \n \n \n FSE:5GE1\n \n \n \n \n \n )\n \n \n \n \n (“Global Energy Metals”, the “Company” and/or\n“GEMC\n \n \n \n \n ”)\n \n \n \n , a company involved in the\ninvestment exposure to the battery metals supply chain, is pleased to\nannounce that the Company will close a first tranche of its\nnon-brokered private placement financing (the “Offering”) raising\ngross proceeds of $870,000. The Company will issue 3,480,000 units\n(“Units”) in this first tranche closing, subject to Exchange\napproval.\n \n \n \n \n Following a significant investment in the Company by\ntwo New York based institutional investment management firms, Global\nEnergy amended the terms of its previously announced financing to\n \n \n \n \n increase the size of the\noffering\n \n \n \n \n to allow for up to gross\nproceeds of $1,000,000 consisting of 4,000,000 Units. It is\nanticipated that a second tranche of the Offering will follow in the\nnext few days.\n \n \n \n \n As announced in the\n \n \n news\nrelease\n \n \n s\n \n \n dated\n \n \n April 22, 2021 and\n \n \n March 2,\n2021\n \n \n , each Unit consists of one common share of\nthe Company (a “Share”) and one transferable common share purchase\nwarrant (a “Warrant”) with each Warrant exercisable to purchase an\nadditional Share of the Company for a period of 24 months from the\nclosing date (“Closing Date”) at a price of CAD$0.30, subject to\nacceleration.\n \n \n \n \n The net proceeds of the Offering will be used for\ngeneral working capital and business development initiatives,\nacquisition of a 50% interest in\n \n \n \n \n copper-silver-gold\n \n \n \n \n and\n \n \n \n \n copper, nickel, cobalt,\nPGE properties\n \n \n \n \n in Idaho, USA and\nQuebec, Canada, as well as for\n \n \n \n \n exploration drilling\nactivities\n \n \n \...