Global Energy Metals Corporation announced that its stock has closed at a price above a necessary threshold for 10 consecutive trading sessions, allowing the company to move up the expiry date on outstanding share purchase warrants.
The company’s stock closed at or above C$0.10 over the past 10 sessions, and as such the company moved up the expiry date to March 15, 2023. A total of 13.5 million warrants were issued through three non-brokered private placements that closed in September 2020, May 2021 and March 2022.
The warrants were repriced to C$0.08 in January, but the trading above C$0.10 allowed the company to end the program early.
READ: Global Energy Metals plots course to build on promising 2022 exploration programs at Nevada copper-silver-cobalt projects
That said, the company encouraged interested parties to utilize its early warrant exercise incentive program.
Those who participate in the program will receive a common share and an additional share purchase warrant priced at C$0.15 per share, good for the subsequent 12 months.
If all of the eligible warrants are exercised during the early exercise period, GEMC said it expects to receive gross proceeds of more than C$1 million.
Global Energy Metals offers investment exposure to the growing rechargeable battery and electric vehicle (EV) market by building a diversified global portfolio of exploration and growth-stage battery mineral assets.
As demonstrated by its current copper, nickel and cobalt projects in Canada, Australia, Norway and the US, the company is investing-in, exploring and developing prospective, scaleable assets in established mining and processing jurisdictions in close proximity to end-use markets.
Contact Andrew Kessel at andrew.kessel@proactiveinvestors.com
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