Business
Top Precious Metals Dealer Assumes 18.6% Stake in Global Energy Metals Corp after Pivot to "Capital Light" Strategy
CHARLOTTE, NC / ACCESSWIRE / August 4, 2023 / Stefan Gleason (the "Acquiror" or "Gleason") today...
About this update from Global Energy Metals Corp
[{"type":"text","content":"Top Precious Metals Dealer Assumes 18.6% Stake in Global Energy Metals Corp after Pivot to \"Capital Light\" StrategyCHARLOTTE, NC / ACCESSWIRE / August 4, 2023 / Stefan Gleason (the \"Acquiror\" or \"Gleason\") today announced he is filing an early warning report under Canada's takeover-bid rules, having acquired an additional 1.75 million shares in Global Energy Metals Corporation (TSXV:GEMC)(OTCQB:GBLEF) (\"Global\" or the \"Company\"), thereby taking his stake in the Company to approximately 18.6%.Gleason is a Charlotte-based entrepreneur who owns several privately held businesses in the United States such as Money Metals Exchange LLC, one of the largest precious metals dealers and depositories in North America with over C$1 billion in annual revenues.Gleason is also Managing Director of Gleason & Sons LLC, a family office that provides credit facilities to mining royalty companies and makes investments in public companies, private equity, and real estate.\"Global's shares have been trading at remarkably depressed prices,\" Gleason said. \"We anticipate a revaluation to occur in this battery metals prospect generator, and we also feel the Company is ripe for a partnership or other strategic transaction that unlocks the value it holds.\"\"Global has a portfolio of nine projects and three royalties with potential to become accretive, particularly the Rana nickel project, the Millenium copper-cobalt project, and the wholly owned Lovelock and Treasure Box properties,\" Gleason continued. \"Meanwhile, we have been pleased to see the Company pivot to prospect generation, creating royalties, and advancing projects through joint ventures - a less capital-intensive yet more strategic and diversified business model.\"The Company's nine projects are located in top-tier jurisdictions, such as United States, Canada, Australia, and Norway with exposure to cobalt, nickel, copper, silver, and gold properties. The company also now owns three 1% NSR royalties and equities of five publicly traded companies.In addition to Global, Gleason and his affiliates are large equity holders in Electric Royalties (TSXV:ELEC) (OTCQB:ELECF), Vox Royalty (TSXV:VOX) (NASDAQ:VOXR), and Empress Royalty (TSXV:EMPR) (OTCQX:EMPYF).On August 3, 2023, Acquiror purchased 1,750,000 Global shares via a private placement closing (at a cost of C$175,000, or an averag...