Global Energy Metals Corp (TSX-V:GEMC) told shareholders that, due to high demand, the company is increasing its non-brokered private placement offering from $500,000 to $650,000, issuing up to 21,666,667 units at $0.03 per unit.
Each unit consists of one common share and half a warrant, with each full warrant allowing purchase of an additional share at $0.05 for 24 months.
GEMC said it intends to use the net proceeds of the offering for general corporate purposes, exploration activities, and project holding costs.