logo-loader
viewGlobal Energy Metals Corp

Global Energy Metals closes oversubscribed financing; raises $800,000 for exploration and development at Nevada projects

The company said funds raised would be used for exploration and development at the Lovelock mine and Treasure Box projects in Nevada as well as for general working capital

cobalt
The company said it plans to use the proceeds to fund exploration and development work on its cobalt projects in Nevada

Global Energy Metals Inc (CVE:GEMC) announced encouraging news Friday that it has closed its oversubscribed private placement, raising more than $813,000 for exploration and development at the Lovelock mine and Treasure Box projects in Nevada. 

Thanks to investor interest, the junior miner issued 16.27 million shares priced at $0.05 apiece for gross proceeds of $813,500. 

READ: Global Energy Metals ups private placement by 50% thanks to interest in its cobalt assets

Each unit will include one share and one warrant which will be exercisable to purchase an additional company share for a period of 36 months from the closing date at a price of $0.10, subject to acceleration.

The Vancouver-based company plans to use the proceeds of the offering to fund exploration work at its Lovelock mine and Treasure Box projects in Nevada, as well as general working capital.

Global Energy Metals focuses on acquiring metals and mining companies with an emphasis on those metals associated with the rechargeable battery market and energy storage sector. It aims to acquire cobalt, lithium, graphite, and other battery metals projects.

Closing of the placement is subject to regulatory approval. All securities issued in connection with the private placement will be subject to a hold of four months and a day from the closing date per securities laws.

Shares of Global Energy Metals were trading at $0.08 in Toronto on Friday. 

Contact Katie Lewis at [email protected]

Quick facts: Global Energy Metals Corp

Price: 0.025 CAD

TSX-V:GEMC
Market: TSX-V
Market Cap: $2.42 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Global Energy Metals Corp named herein, including the promotion by the Company of Global Energy Metals Corp in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Global Energy Metals in London discussing plans to develop cobalt projects...

Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) CEO Mitchell Smith caught up with Proactive's Andrew Scott while in London to update shareholders on progress within its portfolio of cobalt and battery metal projects. Smith says the firm's well-placed to take advantage of the...

2 weeks, 5 days ago

2 min read