viewGlobal Energy Metals Corp

Global Energy Metals completes oversubscribed financing, raising C$1.12mln.

Due to increased investor interest, the offering was oversubscribed, the firm said.

Canadian dollars
The gross proceeds were around C$1.12mln

Cobalt-focused Global Energy Metals Corp (CVE:GEMC) said it had completed an oversubscribed private placing, raising gross proceeds of around C$1.12mln.

Due to increased investor interest, the offering was oversubscribed with a total of around 9.3mln units were issued at 12 Canadian cents each.

READ: Global Energy Metals teams with UK based Glenpani Capital Ltd to increase UK market presence

"The closing of this placement, including strong support from the U.K., allows GEMC to advance quickly the work programme at the advanced Millennium cobalt project in Australia, as well as our continued evaluation of additional high-quality cobalt targets with capacity for scale and economic grades," said Mitchell Smith, president and chief executive.

The funds will go towards expansion and exploration drilling at the company's recently announced Millennium cobalt project in Australia, as well as for general corporate and working capital.

READ: Global Energy Metals strikes option deal to advance key Canadian cobalt resource - Werner Lake

Each unit consisted of one share and one share purchase warrant, with each entitling the holder to buy a company share at 20 Canadian cents for 30 months from closing.

Quick facts: Global Energy Metals Corp

Price: 0.205 CAD

Market: TSX-V
Market Cap: $3.76 m

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Global Energy Metals sells total interest in Werner Lake Project to CBLT

Global Energy Metals (CVE: GEMC- OTCQB: GBLEF) President and CEO Mitchell Smith, and Pater Clausi, CEO of CBLT joined Steve Darling from Proactive to share news the company has decided to sell the entirety of its seventy percent interest in the Werner Lake project in the Kenora, Ontario Mining...

on 12/01/2020

2 min read