Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1, a multi-jurisdictional, multi-commodity critical mineral exploration and development company, has increased its previously announced private placement. Due to public demand, the non-brokered private placement offering of up to 16,666,667 units at $0.03 per unit, initially aimed for gross proceeds of up to $500,000, has been elevated to up to 21,666,667 units, expecting gross proceeds of up to $650,000.

Details of the Offering

Each unit will consist of one common share of the company and one half of one transferable common share purchase warrant. Each warrant empowers the holder to acquire one additional common share at an exercise price of $0.05 for a period of 24 months from issuance, subject to accelerated expiry under certain conditions.

Accelerated Expiry Conditions

If on any 10 consecutive trading days post an initial four-month period from the closing date, the daily volume-weighted average trading price of the company’s common shares reaches at least $0.10 per share, the company may accelerate the expiry date of the warrants to the 30th day after the date on which a notice is given.

Closing and Usage of Proceeds

The company anticipates closing the offering as soon as possible, subject to necessary regulatory approvals including the TSX Venture Exchange. The common shares will be issued on a private placement basis and will be subject to a statutory hold period of four months and one day from the date of issuance.

Finder’s fees may be paid to eligible finders in accordance with the TSXV policies, consisting of a cash commission up to 8% of gross proceeds and finder warrants up to 8% of units sold. Each finder warrant allows the holder to purchase one common share at $0.05 per share for 24 months following the closing date of the offering.

The company intends to use the majority of the net proceeds for general corporate purposes, exploration activities, and project holding costs.

Participation by Insiders

Insiders, directors, and officers of Global Energy Metals are expected to acquire common shares under the offering. The insider participation is considered a related party transaction under MI 61-101, with the company relying on certain exemptions provided under MI 61-101 for formal valuation and minority shareholder approval requirements.

The subscription of common shares by insiders is determined to be within market capitalization limits, ensuring compliance with regulatory requirements.

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