Global Energy Metals Corporation (CVE:GEMC) (OTCMKTS:GBLEF) (FRA:5GE1) announced that it has engaged Qubex Capital Inc. as its financial advisor.
The company said Qubex will assist in reviewing various financing strategies and aiding in the identification and evaluation of strategic proposals to strengthen it’s exposure to the junior resource market-focused within the battery and clean energy sector, with a view to maximizing shareholder value.
In a statement, Mitchell Smith, Global Energy Metals' president, CEO and director commented: “We are pleased to have engaged an innovative, resource focused firm to represent Global Energy Metals as we take the next steps in maximizing investment exposure in the battery supply chain. We look forward to working with Qubex to evaluate, develop and execute on financing strategies that are well aligned with our business strategy.
"Additionally we believe that given Qubex’s extensive network that they will be well-positioned to identify attractive business combination opportunities in industries related to electrification as well as in broader disruptive technology sectors, providing GEMC with an opportunity for transformational growth and shareholder value creation.”
READ: Global Energy Metals to sell its Werner Lake project stake in Ontario to CBLT in a cash-and-stock deal
Steven Velimirovic, managing director of Qubex added: “Qubex looks forward to working with Global Energy Metals and support their financial and strategic growth initiatives as they continue to build exposure and capitalize on the bullish battery metals market.”
Qubex Capital is an independent, full-service capital markets company that through significant global experience and exposure to an extensive network of relationships with management teams of public and private companies, private equity and venture capital sponsors, other public investors, investment bankers and lenders across multiple sectors, including the mining, technology and technology services sectors, will provide M&A and financing advice which will be instrumental in Global Energy’s efforts.
Velimirovic, having over 15 years of investment banking experience, has advised on a number of prominent M&A, equity and debt transactions totaling over US$50 billion in the mining industry. He has devised and implemented various strategic advisory initiatives in major mineral resource markets globally having formerly worked with BMO Capital Markets, UBS and Société Générale. However, Global Energy Metals Corporation noted that there can be no assurances that any transaction will result from these matters and the company will apprise shareholders of any developments.
Separately, Global Energy Metals said CBLT Inc. has informed the corporation that it will not be proceeding with the Werner Lake acquisition at this time, as previously announced on November 26, 2020. Road access to Werner Lake is only from Ontario through Manitoba and back into Ontario to reach the property. This access issue means CBLT has not been able to, and for the foreseeable future will not be able to, complete its technical due diligence until the easing of restrictions related to coronavirus (COVID-19), and, as a result, management cannot deliver a complete due diligence report to CBLT’s board of directors.
Global Energy Metals Corporation holds a 70% interest in the past-producing Werner Lake Cobalt Mine project in Ontario, Canada.
The company is focused on offering investors exposure to the raw materials deemed critical for the growing rechargeable battery market, by building a diversified global portfolio of battery mineral assets including project stakes and sector-specific equity positions.
Global Energy Metals Corporation holds 100% of the Millennium Cobalt Project and two neighbouring discovery stage exploration-stage cobalt assets in Mount Isa, Australia positioning it as a leading cobalt-copper explorer and developer in the famed mining district in Queensland, Australia. It also holds an 85% interest in two battery mineral projects, the Lovelock Cobalt Mine and Treasure Box Project, located on the doorstep of the world’s largest lithium-ion battery production plant, GigaNevada that Tesla Motors Ltd. and partner Panasonic Corp. have built in Nevada, USA.
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