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Global Energy Metals' Early Warrant Exercise Incentive Program Submission Denied by TSX Venture Exchange for Being Too Advantageous
(TheNewswire) Vancouver, BC - TheNewswire - November 23, 2021 - G...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals' Early Warrant Exercise Incentive Program Submission Denied by TSX Venture Exchange for Being Too Advantageous\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Vancouver, BC - TheNewswire - November 23, 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 , a company involved in the investment exposure to the\nbattery metals supply chain, regretfully announces that further to its\n \n \n \n \n \n news release dated\nNovember 15, 2021\n \n \n \n \n \n ,\nthat it has been denied approval from the TSX Venture Exchange (the\n\"TSXV\") for an incentive program (the \"Incentive\nProgram\") submission to encourage the early exercise of up to\n4,794,000 outstanding share purchase warrants (the\n“Warrants”).\n \n \n \n \n \n \n The TSXV does not have a published\npolicy with respect to warrant incentive programs and submissions are\nreviewed on a case by case basis with decisions made following\ninternal guidelines.\n \n \n \n \n \n \n Under these internal guidelines, the\nTSXV denied GEMC’s Incentive Program submission as, although\nwarrants can be “in- the-money”, the current exercise price of the\nWarrants of $0.15 was significantly less than the Company's Discounted\nMarket Price at the time of submission.  Furthermore, the TSXV noted\nthat the Company does not qualify for the Exchange's Warrant Incentive\nProgram based on the fact that the warrant holders would be getting a\nfurther incentive from exercising their Warrants given that the\nWarrant exercise price is significantly “in-the-money” compared to\nthe current trading price of the Company’s shares.\n \n \n \n \n \n \n The Company regrets any confusion it may\nhave created with the proposed Incentive Program and holds firm that\nany additional capital generated by the exercising of Warrants would\nstill be beneficial in allowing for the continued advancement of the\nCompany’s ongoing exploration initiatives including expanding th...