Global Battery Metals Announces Approval and Closing of Non-Brokered Private Placement Financing
February 8, 2021
February 8, 2021, Vancouver, British Columbia – Global Battery Metals Ltd. (the “Company” or “GBML”) (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ) further to its January 25, 2021 news release, the Company announces that it has received approval from the TSX-Venture Exchange to close its non-brokered private placement financing.
The Company will issue 1,416,667 units (the “Units”) for aggregate proceeds of at $170,000. Each Unit consisting of one common share of the Company (“Common Share”) and one Common Share purchase warrant (a “Warrant”); each Warrant will entitle the holder to purchase one additional Common Share at a price of $0.18 per share for a period of two years being February 8, 2023.
All securities issued pursuant to the financing are subject to a four-month hold period of June 9, 2021 before they can be traded.
The net proceeds of the Offering are expected to be used for project evaluation and general corporate purposes.
About Global Battery Metals Ltd.
GBML (https://www.gbml.ca ) is a mineral exploration company with a focus on metals that make up and support the rapid evolution to battery power. GBML's common shares are listed on the TSX Venture Exchange, OTCQB and Frankfurt. GBML currently has two projects: (1) an option to acquire up to 90 per cent of the North-West Leinster lithium property in Ireland, and (2) a 55% stake in Peru-based Lara copper property, which has over 10,000 metres of drilling. As previously disclosed, Minsur S.A., a Peruvian mining company, entered into an option agreement with GBML and Lara Exploration Ltd. to acquire the Lara property for staged payments of US$5.75 million. GBML will retain a 0.75% net smelter royalty.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
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