Global Announces Closing of Non-Brokered Financing
26.08.2014 | Marketwire
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - Aug. 26, 2014) - Global Minerals Ltd. (TSX VENTURE:CTG) (OTCBB:GMLFF) ("Global" or the "Company") announces it has increased and closed its previously announced non-brokered private placement and has issued 3,650,000 units (the "Units") at a price of $0.20 per Unit for aggregate proceeds of $730,000. Each Unit will be comprised of one common share and one-half of one share purchase warrant (a "Warrant"). Each whole Warrant is exercisable to purchase one common share at a price of $0.28 per share for a period of two years expiring August 26, 2016. All securities are subject to a four-month hold period expiring December 27, 2014.Proceeds from this financing will be used to further the development of the Strieborná project and for general working capital.
Tim McCutcheon, CEO, comments: "I am very pleased that we were able to raise funding above market for our on-going development of the Strieborná silver-copper project. Aggregate insider participation in this financing was 2,525,000 units or $505,000, which demonstrates the strong conviction of the Global team in the potential of Strieborná and our ability to advance the asset to production. Our next step is to complete the PEA, giving investors a detailed picture of what Strieborná may look like as a mine."
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy of this release.
This press release does not constitute an offer to sell or solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to a U.S. Person unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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CONTACT INFORMATION
Global Minerals Ltd.
Tim McCutcheon, CEO
877.356.0674
info@globalminerals.com