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Global Energy Metals Signs Binding Agreement for Royalty Sale on Norway Based Rana Nickel-Copper-Cobalt Project; Increases Equity Holdings in Electric Royalties
(TheNewswire) Vancouver, BC - TheNewswire - December 16, 2021 - G...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Global Energy Metals Signs Binding Agreement for Royalty Sale on Norway Based Rana Nickel-Copper-Cobalt Project; Increases Equity Holdings in Electric Royalties\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n Vancouver, BC - TheNewswire - December 16, 2021 -\n \n \n \n \n Global\nEnergy Metals Corporation\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 OTCQB: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 \n a company involved\nin the investment exposure to the battery metals supply chain, is\npleased to announce the signing of the definitive purchase agreement\nfor the previously announced Rana Nickel Royalty acquisition by\nElectric Royalties Ltd. (“Electric Royalties” and/or “ELEC”).\n As announced, Scandinavian Resource Holdings (“SRH”) and GEMC\ncreated and agreed to sell to ELEC a new 1% Net Smelter Royalty (the\n“1% NSR”) on four exploration licenses totaling 25 square\nkilometers in the Råna mafic-ultramafic intrusion in Northern Norway\nand includes the past producing Bruvann Nickel mine (the “Råna\nProject” or “Råna”).\n \n \n \n \n \n In connection with closing, ELEC will issue total\nconsideration of 2,000,000 common shares of the company\n(“Consideration Shares”) and $100,000 cash payable to GEMC and SRH\nin proportion to project ownership. The Consideration Shares will be\nsubject to a voluntary escrow lock-up agreement which provides that\n50% of the common shares will be subject to a hold period of 4 months\nand one day, 25% for 8 months and the remaining 25% for 12 months.\n \n \n \n \n Rana Nickel Project Royalty\nHighlights\n \n \n \n \n \n • Includes the past producing\nBruvan\n \n \n \n n Ni-Cu-Co mine which has\nsignificant historical resources remaining after production shut down\nin 2002 due to low nickel prices;\n \n \n \n \n \n \n \n The Rana Nickel Project is located on\nthe Ofoten Fjord in Northern Norway and is ice-free year-round. The\nproject includes the past producing Bruvann Ni-Cu-Co mine which was in\nproduction ...