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Global Energy Metals Completes on Royalty Sale of Australian Battery Mineral Portfolio; Earns Meaningful Equity Stake in Electric Royalties
(TheNewswire) Vancouver, BC - TheNewswire - February 2nd, 2021 - ...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Completes on Royalty Sale of Australian Battery Mineral Portfolio; Earns Meaningful Equity Stake in Electric Royalties \n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, BC - TheNewswire - February 2nd, 2021 -\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\n“Company” and/or \"GEMC\"\n \n \n \n \n )\n \n \n \n \n is pleased to announce that the Company has\nclosed the sale of its 0.5% gross metal royalty (the “Royalty”)\nannounced on July 23, 2020 to\n \n \n \n \n \n Electric Royalties Ltd.\n \n \n \n \n \n (“Electric Royalties” and/or “ELEC”)\non the Millennium Cobalt Project, the Mt. Dorothy Cobalt Project and\nthe Cobalt Ridge Project located in Queensland, Australia.\n \n \n \n \n \n \n Mitchell Smith,\nPresident and CEO, states:\n \n \n \n \n \n \n \"\n \n \n \n \n We are pleased by this first monetization\nof our Australian-based battery mineral asset portfolio.  The initial\n1,150,000 shares in Electric Royalties, equating to approximately a\n2.5% interest in ELEC, will provide our shareholders with a way to\nparticipate in an aggressive and rapidly growing royalty company\nfocused on minerals core to the electric revolution.\n \n \n \n \n \n \n Additionally, the\ncash component from the sale will allow GEMC to accelerate its mandate\nof diversifying exposure to the battery minerals supply chain and\nallow for the Company to further capitalize on the shift to electric\nmobility and new forms of clean energy storage driven by accelerated\nefforts to reduce the world’s dependence on fossil\nfuels.”\n \n \n \n \n \n \n Through its wholly-owned subsidiary,\n \n \n \n \n \n Element Minerals\nAustralia PTY\n \n \n \n \n \n , Global\nEnergy Metals has established extensive tenement holdings totaling\n2,560 hectares (6,326 acres) across the Mount Isa and Cloncurry mining\ndistricts in northwest Queensland, Australia.  This commanding land\npackage contains a number of properties with significant cobalt,\ncopper, gold and base ...