Global Energy Metals Corp. (CVE:GEMC) announced Monday that it has appointed Alex Hewlett to its board of directors.
The appointment is subject to the completion of the acquisition of the Millennium cobalt project, as well as the Mount Dorothy cobalt project and the Cobalt Ridge project (collectively known as the Mount Isa projects).
Additionally, the company announced that chief executive officer and president Mitchell Smith has also been appointed to the board.
Global Energy Metals is currently in the process of acquiring the balance of the Millennium Property and the Mt. Isa Projects from Hammer Metals, and will now hold 100% of both in exchange for common shares of GEMC, equal to 19.9% of the issued share capital. Hammer was granted the right to nominate one individual to GEMC's Board subject to the completion of the agreement. The company expects to complete on the transaction in the coming weeks.
READ: Global Energy Metals says initial drill results from Werner Lake show high grade cobalt
"We are in full support of Hammer's nomination of Mr. Hewlett to our board of directors as part of this foundational transaction. Alex's wide international experience in the natural resource sector and expertise in the Mt. Isa region will greatly benefit our focus on growing the Millennium Cobalt project and the building of a new cobalt district in Queensland, Australia," said executive director Erin Campbell.
"As GEMC prepares for significant growth, now is the right time to complement the board with the vision, leadership and drive that Mitchell Smith has executed in building a premier cobalt focused company with strong assets in politically safe, pro-mining jurisdictions. We are equally as excited to add Mitchell to the board."
The company also announced the departure of Ray Castelli as one of its founding board members.
Shares of Global Energy Metals were at C$0.09 on Monday.