Global Energy Metals announces New Board Directors Concurrent with Closing of Millennium and Mt. Isa Cobalt Projects Acquisitions
(via TheNewswire)
Vancouver, BC / TheNewswire / July 30, 2018 / Global Energy Metals Corporation TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1 ("Global Energy Metals", the "Company" and/or "GEMC") is pleased to announce the appointment of Mr. Alex Hewlett to the Board of Directors subject to the completion of the previously announced 100% acquisition of the Millennium Cobalt Project (the "Millennium Property") as well as the Mt. Dorothy Cobalt Project and the Cobalt Ridge Project (collectively the "Mt. Isa Projects").
In addition, the Company is also pleased to announce the appointment of Mr. Mitchell Smith, the President and CEO of GEMC, to the Board.
As outlined in the binding agreement announced June 26, 2018 (the "Agreement"), Global Energy Metals is acquiring from Hammer Metals the balance of the Millennium Property and the Mt. Isa Projects, and will now hold 100% of both the Millennium Property and the Mt. Isa Projects in exchange for common shares of GEMC as is equal to 19.9% of the issued share capital on the day prior to the date on which Exchange acceptance for such issuance is sought. 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.
Erin Campbell, Executive Director, commented on the two appointments:
"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."
"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."
Alexander Hewlett, (BSc) MAusIMM, AICD, is a qualified Geologist graduating from the University of Western Australia. Mr. Hewlett is the CEO and Director of GEMC's partner Hammer Metals. Alex worked as a resource-modelling geologist for CSA Global before taking on management positions of ASX listed explorers as Managing Director of US Nickel Ltd and Chairperson of Groote Resources Ltd (now Northern Manganese Limited). Alex also periodically consults in a technical capacity for a New York resource focused hedge fund. Alex is a member of the Australasian Institute of Mining and Metallurgy.
The Company also wishes to announce the departure of Mr. Ray Castelli as one of its founding Board members. The Board of Directors thanks Mr. Castelli for his assistance throughout the years and wishes him well on future ventures. Mr. Castelli will remain with the Company in an advisory capacity.
Global Energy Metals Corporation
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
Global Energy Metals is focused on offering security of supply of cobalt, a critical material to the growing rechargeable battery market, by building a diversified global portfolio of cobalt assets including project stakes, projects and other supply sources. GEMC anticipates growing its business by acquiring project stakes in battery metals related projects with key strategic partners. Global Energy Metals currently owns and is advancing the Werner Lake Cobalt Mine in Ontario, Canada and has entered into an agreement to earn-in to the Millennium Cobalt Project in Mt. Isa, Australia.
For Further Information:
Global Energy Metals Corporation
#1501-128 West Pender Street
Vancouver, BC, V6B 1R8
Email: [email protected]
t. + 1 (604) 688-4219 extensions 236/237
Cautionary Statement on Forward-Looking Information:
Certain information in this release may constitute forward-looking statements under applicable securities laws and necessarily involve risks associated with regulatory approvals and timelines. Although Global Energy Metals believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Except as required by law, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change. For more information on Global Energy and the risks and challenges of their businesses, investors should review the filings that are available at www.sedar.com.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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