Global Battery Announces Grant of Stock Options and Shares for Services Agreement
Vancouver, April 8, 2021 - Global Battery Metals Ltd. (TSXV: GBML) (FSE: REZ) (OTCQB: REZZF) (the "Company" or "GBML") announces that it has granted incentive stock options to certain directors, officers, employees and consultants of the Company to acquire an aggregate of 2,675,000 common shares in the capital of the Company at an exercise price of $0.37 (the "Options") in accordance with the Company's 10% rolling incentive stock option plan. The Options are exercisable for a five-year term expiring April 7, 2026.
As a result of this stock option grant, GBML has 4,400,000 stock options issued, representing 8.04% of its issued and outstanding share capital.
In addition, the Company announces it has entered into a financial advisory services agreement (the "Agreement") with an arm's-length mining advisory firm (the "Advisor"), dated March 15, 2021, pursuant to which payment for services shall be made, subject to approval of the TSX Venture Exchange, in common shares in the capital of the Company ("Common Shares"). The Agreement contemplates the issuance of 40,000 Common Shares to the Advisor per month in payment of the monthly work fee until such time the Agreement is terminated. The Company has filed a copy and applied for acceptance of the Agreement with the TSX Venture Exchange. If approved, Common Shares will be issued under the Agreement at a deemed price per share to be determined after the date that the services have been provided.
About Global Battery Metals Ltd.
GBML 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 three projects: (1) an option to acquire up to 90 per cent of the North-West Leinster lithium property in Ireland, (2) a 100-per-cent interest in the Lithium King property in Utah, and (3) a 55-per-cent 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 USD$5.75 million. GBML will retain a 0.75-per-cent net smelter royalty.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
Neither the 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/79801
