Global Energy Metals Corp. (TSXV:GEMC,FSE:5GE1) is pleased to report on key milestones achieved in 2017 and strategic goals for 2018 for both the Company and its two primary-cobalt projects.
Global Energy Metals Corp. (TSXV:GEMC,FSE:5GE1) (“Global Energy Metals”, the “Company” and/or “GEMC”) is pleased to report on key milestones achieved in 2017 and strategic goals for 2018 for both the Company and its two primary-cobalt projects.
The past year has been transformative for Global Energy Metals as the company achieved numerous milestones providing investors pure-play exposure to what was the hottest metal of 2017 – cobalt. Strong fundamentals for the electric vehicle industry and energy storage sector should prove to further support continued demand for cobalt and further necessitate the need to create a safe and secure supply of cobalt as a key additive for battery technology. This trend aligns closely with GEMC’s corporate mandate of becoming a future supplier of cobalt material through our advancement of existing projects and the expectation to add new high quality assets.
GEMC enters 2018 well positioned corporately with a tight share structure and a strong cash position with no debt. The Company will aim to build on the following successes achieved during 2017.
Milestones Achieved in 2017:
-GEMC listed its shares on the TSX Venture Exchange on March 1, 2017;
-Strengthened the team with the addition of Ian Spence as the company’s Australian Acquisitions lead and New Tigers Consulting Limited as its Chinese representative in advancing the company’s cobalt material supply strategy.
-Announced the signing of a long-term strategic cooperation agreement with Beijing Easpring Material Technology Co. a leading battery manufacturing company to jointly invest in and develop cobalt projects;
-Entered into an option agreement with Hammer Metals Ltd. for the exclusive right to earn up to a 75% interest in the Millennium Cobalt Project, an advanced mineral exploration and development property located in the famed Mount Isa mining region of Australia;
-Fundamental Research initiated favourable coverage on GEMC with a price target of $0.30/share;
-Complemented its TSXV listing with a Frankfurt Stock Exchange listing;
-Completed a Resource Report on its Canadian based Werner Lake cobalt project supporting high grade cobalt mineralisation and need for further investment into the project;
-Commenced a Phase 1 work program at the Millennium Cobalt Project with the intent of increasing the envelope of mineralisation within the JORC resource area by testing depth and strike extensions;
-Entered into an option agreement with ASX listed Marquee Resources to advance the Company’s Werner Lake Cobalt project, a past-producing primary cobalt mine;
-Welcomed London based Glenpani Capital as a valued strategic partner to further enhance its market presence in the UK;
-Continued to evaluate additional high-quality cobalt targets with capacity for scale and economic grades; and,
-Ended the year with a 50% increase in share price and strong treasury having completed another oversubscribed private placement.
We are in a very strong position for company growth and success in 2018 with a promising line up of drill results from Millennium along with additional corporate activity and growth catalysts. We will continue to operate with a sense of urgency and focus, and fully expect that the successful execution of our goals will positively impact shareholder value.
Key Catalysts and Strategic Goals for 2018:
-Strengthen cobalt project portfolio through the acquistion of additional high quality cobalt assets in safe, mining friendly jurisdictions;
-Aggressively pursue receptive US investing audience by listing on a recognized US exchange;
-Meet certain share price targets to incentivize the exercising of outstanding Warrants;
-Initiate partner-funded work program to advance the Werner Lake Cobalt project;
-Increase market awareness and shareholder base globally;
-Increase analyst and institutional coverage;
-Initiate district wide exploration, targeting and building on resources nearby the existing Millennium Cobalt Project;
-Leverage knowledge and team experience and augment it by signing key operational team members to support strategy; and,
-Deploy available capital to further enhance shareholder value.
We would like to thank our strong shareholder and stakeholder base for their continued support and our team looks forward to a productive year ahead.
On behalf of the entire Global Energy Metals team,
President & CEO
Global Energy Metals Corporation (TSXV:GEMC | 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
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.
We seek safe harbour.
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