Global Energy Metals Provides Corporate Update Including Welcoming of New Significant Shareholder and Advancement of Multiple Partner Funded Field Work Programs
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Vancouver, BC - TheNewswire - July 18, 2023 - Global Energy Metals Corporation (TSXV:GEMC) (OTC:GBLEF) (FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”), a multi-jurisdictional, multi-commodity critical mineral exploration and development company focused on growth-oriented battery metal projects supporting the global transition to clean energy, is pleased to provide a corporate update.
As a result of multiple project monetization events, including the generation of two new royalties to the Global Energy Metals’ portfolio as well as several non-dilutive project advancements, the Company was recently informed that Stefan Gleason, a Charlotte-based entrepreneur who owns and leads several privately held businesses in the United States including Money Metals Exchange LLC, has taken a significant in-market interest in the Company having acquired 14.18% of the issued and outstanding Shares on an as converted and partially diluted basis.
Gleason is also the managing Director of Gleason & Sons LLC which invests in equity as well as provides credit facilities to mining royalty companies.
Commenting on taking a strategic position in GEMC, Mr. Gleason said:
"Over the past year, Global Energy Metals has strategically pivoted to creating royalties and establishing joint ventures, enabling it to diversify its battery metals exposure while reducing its internal costs amid today's difficult capital market for mining equities. With two new royalties created just last week, all of Global's projects other than Nevada-based Lovelock and Treasure Box are proceeding under joint-venture arrangements - with its partners responsible for virtually all exploration and development expenditures. I believe this deeply undervalued Company is also ripe for a strategic partnership or transaction."
GEMC welcomes Mr. Gleason as a significant shareholder and looks forward to continue to execute on strategy of securing exposure to the battery supply chain through its current portfolio of projects and future opportunities it is evaluating.
For further details, please refer to the filing made on the Company’s SEDAR page linked here.
In addition, the Company is pleased to report that High-Tech Metals Limited (“High-Tech”), an equity investee of GEMC, has announced technical and geological consultants have successfully progressed field work and sampling within the key target areas at its Werner Lake Cobalt Project located in north-western Ontario.
This follows the successful orientation ground geophysical program, (Refer to High-Tech’s ASX Releases dated 20th April 2023 and 26th May 2023) which was pivotal in identifying potential mineral deposits and improving our understanding of the geological structure of the area.
Finalization of targeting for Phase II is now complete with results from the sampling program, to provide additional data for a second round of electromagnetic surveying leading to a High-Tech planned maiden drilling program.
In January 2023 GEMC completed the divestment of its 70% interest in the Werner Lake Project to High-Tech. The Company currently holds 2.5 million High-Tech shares representing a 7.61% interest in the ASX company. See news release linked here:
For further details regarding the Werner Lake Cobalt Project, including the project updates, highlights, images and maps, please see High-Tech Metals website https://hightechmetals.com.au/.
Global Energy is also benefiting from project advancement by joint venture partner Kingsrose Mining Limited (“Kingsrose”), which recently announced the commencement of 5,000 metres of core drilling in addition to further field and geophysical work at the Råna nickel-copper-cobalt sulphide project in Nordland County, Norway. Kingsrose has committed up to $15 million in staged exploration to advance this highly prospective past producing mining area which has not been explored with modern methods.
Gleason & Sons
Gleason & Sons is a Charlotte-based family limited liability company which holds and manages debt, equity, and real estate investments.
High-Tech Metals Limited
High-Tech Metals Limited (ASX:HTM) is an ASX-listed company focused on the exploration and development of its flagship, 100 per cent owned Werner Lake Cobalt Project (the Project) located in north-western Ontario, within the Kenora Mining District, approximately 85 km north-northwest of Kenora, Ontario and approximately 170 km east-northeast of Winnipeg, Manitoba. The Project was acquired from Global Energy Metals Corporation (70%) and Marquee Resources Limited (30%).
Kingsrose Mining Limited
Kingsrose is a leading sustainability-conscious and technically proficient mineral exploration company listed on the ASX. The Company has a discovery-focused strategy, targeting the acquisition and exploration of critical mineral deposits having Tier-1 potential, that has resulted in the acquisition of, or joint venture into, the Råna nickel-copper-cobalt, Penikat PGE and Porsanger PGE-nickel-copper projects in Finland and Norway. Additionally, Kingsrose has been selected for the first cohort of the BHP Xplor exploration accelerator program which commenced in January 2023.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twitter: @EnergyMetals | @USBatteryMetals | @ElementMinerals
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals Corp. offers investment exposure to the growing rechargeable battery and electric vehicle market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.
Global Energy Metals recognizes that the proliferation and growth of the electrified economy in the coming decades is underpinned by the availability of battery metals, including cobalt, nickel, copper, lithium and other raw materials. To be part of the solution and respond to this electrification movement, Global Energy Metals has taken a ‘consolidate, partner and invest’ approach and in doing so have assembled and are advancing a portfolio of strategically significant investments in battery metal resources.
As demonstrated with the Company’s current copper, nickel and cobalt projects in Canada, Australia, Norway and the United States, GEMC is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets. Global Energy Metals is targeting projects with low logistics and processing risks, so that they can be fast tracked to enter the supply chain in this cycle. The Company is also collaborating with industry peers to strengthen its exposure to these critical commodities and the associated technologies required for a cleaner future.
Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity. Global Energy Metals believes Now is the Time to be part of this electrification movement.
Cautionary Statement on Forward-Looking Information:
Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management’s beliefs, estimates or opinions, or other factors, should change.
GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
We seek safe harbour.