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Global Energy Metals Focuses on Maximizing Shareholder Value Through Corporate and Portfolio Optimization Review
(via TheNewswire) Vancouver, BC - TheNewswire - August 10, 2020 - Global ...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Focuses on Maximizing Shareholder Value Through Corporate and Portfolio Optimization Review(via TheNewswire)\n \n \nVancouver, BC - TheNewswire - August 10, 2020 - Global Energy Metals Corporation (TSXV:GEMC) | (OTC:GBLEF) | (FSE:5GE1) (\"Global Energy Metals\", the \"Company\" and/or \"GEMC\") announces that the board of directors of the Company together with its management team and strategic advisors, has undertaken a process to initiate a strategic review focused on maximizing shareholder value as part of its overall corporate and portfolio optimization strategy. \n\n\n \nMost recently, the Company, as part of its aim to increase shareholder value, entered into a definitive purchase agreement to sell a portfolio of royalty interests to Electric Royalties Ltd. (TSXV:ELEC) (\"Electric Royalties\") on the Millennium Cobalt Project, and the Mt. Dorothy Cobalt Project and the Cobalt Ridge Project located in Queensland, Australia. \n\n\n \nThrough the meaningful stake in Electric Royalties, Global Energy will have added exposure to the strong and diversified energy mineral asset royalty portfolio that Electric Royalties holds in lithium, vanadium, manganese, cobalt, and graphite, as well as the added benefit of like-minded corporate objectives and growth mandate in a strong critical minerals and clean energy price environment.\n\n\n \nAs consideration for the 0.5% gross metal royalty on Millennium and the Mount Isa Projects, Electric Royalties will issue to Global Energy Metals 1.15 million shares in Electric Royalties and make a CAD $150,000 cash payment. For more information please refer to the Company's news release dated July 23, 2020. \n\n\n \nIn connection with the strategic review process, the Company is undertaking a comprehensive assessment to identify and consider a range of opportunities and their potential to enhance shareholder including further acquisition, divestment or spin-out of certain valuable assets which GEMC believes are not currently getting fair value as reflected in its stock price, a merger or business combination with another party, a corporate sale, a strategic partnership or any combination of the forgoing.\n\n\n \nGlobal Energy Metals holds a number of jurisdictionally safe cobalt, nickel, copper and gold mineral projects that are well positioned for further exploration and develo...