Global Energy Metals Corp (TSX-V:GEMC) revealed that one of its strategic investors, Stefan Gleason, has acquired an additional 1.75 million shares in the company, increasing his ownership interest to about 18.6%.
Gleason described himself as a Charlotte-based entrepreneur who owns several privately held businesses in the US such as Money Metals Exchange LLC, one of the largest precious metals dealers and depositories in North America with over C$1 billion in annual revenues.
"Global's shares have been trading at remarkably depressed prices," Gleason said in a statement.
"Meanwhile, we have been pleased to see the company pivot to prospect generation, creating royalties, and advancing projects through joint ventures - a less capital-intensive yet more strategic and diversified business model," he added.
Gleason noted that he purchased the 1.75 million shares, at an average price of C$0.10 per share, as part of the company’s most-recent private placement, which represents more than 2% of Global Energy Metals’ outstanding shares.
The company’s nine projects are located in top-tier jurisdictions, such as the US, Canada, Australia, and Norway, with exposure to cobalt, nickel, copper, silver, and gold properties, and Global Energy Metals also now owns three 1% net smelter return (NSR) royalties and equities of five publicly traded companies, according to the company.
Global Energy Metals 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.
Contact Sean at sean@proactiveinvestors.com