Global Energy Metals Corp (TSX-V:GEMC) announced plans to raise up to $500,000 through the issuance of up to 16,666,667 units at $0.03 per unit.
Each unit comprises one common share and one-half of a warrant, with each whole warrant exercisable at $0.05 per share for 24 months.
Funds will be used for general corporate purposes, exploration activities, and project holding costs.
Insiders including Gleason & Sons LLC are expected to participate, the company said.