(via TheNewswire)
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The Program will commence January 27, 2023, at
Under the Program, holders of Eligible Warrants who elect to exercise their Eligible Warrants at the price of
• common shares in the capital of the Company to which they are otherwise entitled under the terms of the Eligible Warrants; and
• one additional common share purchase warrant of the Company (each, an "Incentive Warrant") entitling the holder to acquire an additional common share of the Company at a price of
Additional details of the Program, including the documentation required to be delivered by holders to the Company on or before the Early Exercise Expiry Date, are available in the Company's news release dated
Each holder of Eligible Warrants will receive a Notice of Early Warrant Exercise Incentive Program substantially in the form attached hereto as Schedule A.
The Incentive Warrants will be subject to a four month hold period from the date of issuance and will include a warrant acceleration provision pursuant to which the Company will be permitted to accelerate the expiry date of the Incentive Warrants if the closing price of the Company's Common Shares on theExchange remains at or above
In the event the Company exercises the Acceleration Event (by disseminating a news release advising of the Acceleration Event), holders will have 30 days to exercise the Incentive Warrants, after which the unexercised Incentive Warrants will be void and of no effect.
If all of the Eligible Warrants are exercised during the Early Exercise Period, GEMC expects to:
Receive gross proceeds of approximately
$1,080,520 on or before the Early Exercise Expiry Date;Issue up to 13,506,500 common shares pursuant to the exercise of the Warrants by holders in accordance with the original terms of the Warrants; and
Issue up to 13,506,500 Incentive Warrants to Warrant holders pursuant to the early exercise of the Warrants on or before the Early Exercise Expiry Date.
Holders of Eligible Warrants who elect to participate in the Program will be required to deliver the following to the Company on or prior to
a duly completed and executed Exercise Form, in the form which accompanies the certificate representing the Eligible Warrants;
the original certificate representing the Eligible Warrants being exercised; and
the applicable aggregate exercise price payable to the Company by way of certified cheque, money order, bank draft, or wire transfer in lawful money of
Canada .
To the extent that holders of the Eligible Warrants take advantage of the opportunity to exercise their Warrants early, this will strengthen Global Energy’s current cash position and provide the Company with additional working capital to meet its on-going business obligations.
The transaction is subject to the receipt of all final regulatory approvals, including the approval of the Exchange. Any Eligible Warrants that are not exercised prior to the Early Exercise Expiry Date will remain outstanding and continue to be exercisable for Common Shares on their existing terms.
The Eligible Warrants were originally issued by the Company as part of a unit issued in connection with private placement financings completed in
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
As demonstrated with the Company’s current copper, nickel and cobalt projects in
Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity.
For Further Information:
#1501-128 West
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twitter:@EnergyMetals|@USBatteryMetals|@ElementMinerals
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
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.
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We seek safe harbour.
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Copyright (c) 2023 TheNewswire - All rights reserved., source