(via TheNewswire)
Full details of the transaction can be found on the Company’s website in a news release issued earlier in the day.
Highlights:
Exposure to uranium, a new commodity to Global Energy’s existing project, equity and royalty portfolio;
Strategic equity position in Terra Balcanica, a publicly listed multi-commodity company with a new focus on uranium exploration in the
Athabasca Basin (“Basin”);Historical work at the Projects has demonstrated evidence of uranium mineralization along favourable structural trends with prospective target horizons based on electromagnetic conductors;
Proximal to northern and southeastern edges of the Basin in northern
Saskatchewan , a premium mining district and leading global source of high-grade uranium;Charlot-Neely is located within the emerging
Uranium City district on the northwestern margin of the Basin;Exploration expenditures by Terra totalling
$3,250,000 prior to the fourth anniversary of the Option Agreement will aim to determine the resource potential for the Projects.
The agreement's termination marks a strategic move for
Under the option agreement between Terra and Fulcrum, Terra intends to acquire a 100% interest in Fulcrum's uranium projects.
In exchange for terminating the prior agreement with Fulcrum,
Additionally,
The project portfolio targets major NE-SW trending structures along strike from historic uranium mines and projects.
GEMC CEO
“We are excited to have attracted such a strong operational partner in Terra Balcanica to apply their technical and jurisdictional expertise to advance these North American uranium projects at such a pivotal time in this new nuclear era,”
“Through this arrangement, we’re excited to maintain exposure to these high-quality uranium assets through both the equity position in Terra and the NSR royalty over the portfolio.
"This will bolster Global Energy’s existing project, royalty and equity portfolio to now include uranium and further demonstrates the company’s ability to monetize assets for the benefit of shareholders.”
Future exploration efforts, spearheaded by Terra, aim to assess the resource potential of the projects, building on initial exploration and evaluation conducted by Fulcrum in 2023.
Qualified Person
Mr.
For Further Information:
#1501-128 West
Email: info@globalenergymetals.com
t. + 1 (604) 688-4219
www.globalenergymetals.com
Twitter:@EnergyMetals|@USBatteryMetals|@ElementMinerals
(TSXV:GEMC | OTCQB:GBLEF | FSE:5GE1)
As demonstrated with the Company’s current copper, nickel and cobalt projects in
Securing exposure to these critical minerals powering the eMobility revolution is a generational investment opportunity.
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
GEMC’s operations could be significantly adversely affected by the effects of a widespread global outbreak of a contagious disease, including the recent outbreak of illness caused by COVID-19. It is not possible to accurately predict the impact COVID-19 will have on operations and the ability of others to meet their obligations, including uncertainties relating to the ultimate geographic spread of the virus, the severity of the disease, the duration of the outbreak, and the length of travel and quarantine restrictions imposed by governments of affected countries. In addition, a significant outbreak of contagious diseases in the human population could result in a widespread health crisis that could adversely affect the economies and financial markets of many countries, resulting in an economic downturn that could further affect operations and the ability to finance its operations.
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
We seek safe harbour.
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Copyright (c) 2024 TheNewswire - All rights reserved., source