Global Battery Metals Announces Private Placement Financing

Executive Summary

• Global Battery Metals Ltd. announced a non‑brokered private placement of up to 7 million units at $0.09 per unit, targeting gross proceeds of up to $630,000.
• Each unit consists of one common share and one warrant allowing the purchase of an additional share at $0.12 for three years.
• Net proceeds are earmarked for project evaluation expenses and general working capital; the offering is subject to a four‑month statutory hold period and TSX Venture Exchange acceptance.

Key Details

• Units Offered: Up to 7,000,000 units (each = 1 common share + 1 warrant).
• Price per Unit: $0.09.
• Gross Proceeds Target: Up to $630,000.
• Warrant Terms: One warrant per unit; exercisable at $0.12 per share for a three‑year period from issuance.
• Use of Proceeds: Cover future project evaluation expenses and general working capital.
• Statutory Hold Period: Four months from the date of issuance, per applicable securities laws.
• Exchange Acceptance: Offering subject to acceptance by the TSX Venture Exchange.
• Related Party Participation: Certain directors and officers may acquire units; transaction qualifies as a “related party transaction” under MI 61‑101 with exemptions applied (fair market value not to exceed 25% of market cap).
• Finder’s Fees: May be payable in connection with the offering.
• Regulatory Disclaimers: Securities are not registered in the United States and may only be offered there pursuant to applicable exemptions.

Notable Quotes

(No direct quotes were provided in the release.)