CHARLOTTE, NC / ACCESSWIRE / July 11, 2023 / Stefan Gleason (the "Acquiror" or "Gleason") today announced that he is filing an early warning report in connection with his open-market acquisition of shares in Global Energy Metals Corporation (TSXV:GEMC)(OTCQB:GBLEF) ("Global" or the "Company"), taking his stake in the Company to approximately 14.2%.
Gleason is a Charlotte-based entrepreneur who owns several privately held businesses in the United States such as Money Metals Exchange LLC, one of the largest precious metals dealers and depositories in North America with over C$1 billion in annual revenues.
Gleason is also a Managing Director of Gleason & Sons LLC, a family office that provides credit facilities to mining royalty companies and makes investments in public companies, private equity, and real estate.
"Over the past year, Global Energy Metals has strategically pivoted to creating royalties and establishing joint ventures, enabling it to diversify its battery metals exposure while reducing its internal costs amid today's difficult capital market for mining equities," said Gleason.
"With two new royalties created just last week, all of Global's projects other than Nevada-based Lovelock and Treasure Box are proceeding under joint-venture arrangements - with its partners responsible for virtually all exploration and development expenditures," Gleason continued. "I believe this deeply undervalued Company is also ripe for a strategic partnership or transaction."
The Company's nine projects are located in top-tier jurisdictions, such as United States, Canada, Australia, and Norway with exposure to cobalt, nickel, copper, and gold. The company also holds three 1% NSR royalties and equities of five publicly traded companies.
On July 10, 2023, Acquiror purchased 1,855,317 Company shares via the OTCQB (at a cost of C$ 113,218, or an average of $0.061 per share). Prior to July 10, the Acquiror held an aggregate of 3,794,280 Common Shares and 480,000 Warrant Shares, representing 9.89% of the issued and outstanding Shares on an as converted and partially diluted basis. After the purchases on July 10, the Acquiror held 5,649,597 Common Shares and 480,000 Warrant shares, or 14.18% of the issued and outstanding Shares on an as converted and partially diluted basis.
The Acquiror is filing this initial early warning report because he has now accumulated more than 10% of the Company's issued and outstanding Shares.
This early warning news release is issued under the early warning provisions of Canadian securities legislation, including National Instrument 62-104 - Take-Over Bids and Issuer Bids and National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues. A copy of the Early Warning Report will be filed at www.sedar.com.
ABOUT GLEASON & SONS
Gleason & Sons is a Charlotte-based family limited liability company which holds and manages debt, equity, and real estate investments.
For further information, contact:
Stefan Gleason
Gleason & Sons LLC
15720 Brixham Hill Avenue, #205
Charlotte, NC 28277
www.GleasonSons.com
Tel: 208-577-2230
This release includes certain statements that may be deemed "forward-looking statements." All statements in this release, other than statements of historical facts, that address anticipated future events are forward-looking statements. Although 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.
SOURCE: Gleason & Sons LLC