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Global Energy Metals Increases Private Placement for Proceeds of up to $750,000
(via TheNewswire) THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO ...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Increases Private Placement for Proceeds of up to $750,000(via TheNewswire)\n\n \nTHIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES\n\n \n \nVancouver, BC / TheNewswire / April 10, 2019 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 (\"Global Energy Metals\", the \"Company\" and/or \"GEMC\") is pleased to report that due to demand, the non-brokered private placement offering of up to 10,000,000 units at $0.05 per unit for gross proceeds of up to $500,000 previously announced in the Company's news release April 4, 2019 (the \"Private Placement\") has been increased to up to 15,000,000 units (the \"Units\") at $0.05 per unit for gross proceeds of up to $750,000. \n\n\n \nEach Unit consists of one common share of the Company and one transferable common share purchase warrant. Each warrant is exercisable to purchase an additional share of the Company for a period of 36 months from the closing date at a price of $0.10, subject to acceleration.\n\n\n \nThe Company intends to use the net proceeds from the offering to fund exploration and development activities at the Lovelock mine and Treasure Box projects in Nevada, as well as for general working capital requirements.\n\n\n \nAll securities issued in connection with the Private Placement will be subject to a statutory hold period of 4 months plus a day from the closing date in accordance with applicable securities legislation. \n\n\n \nWarrants are subject to an acceleration clause whereby if on any 10 consecutive trading days occurring after four months and one day has elapsed from the closing date, the daily volume weighted average trading price of the common shares of the Company is at least $0.20 per share, the Company may accelerate the expiry date of the warrants to the 30th day after the date on which the Company gives notice to the subscriber in accordance with the warrant of such acceleration. Finders' fees may be paid in connection with this offering. \n\n\n \nClosing of the Private Placement is expected shortly and is subject to the approval of the TSXV. \n\n\n \nGlobal Energy Metals Corporation\n\n\n \n(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)\n\n\n \nGlobal Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by buildi...