Global Battery Metals Announces Results of its Annual General and Special Meeting of Shareholders
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Vancouver, British Columbia – TheNewswire - February 4, 2025 – Global Battery Metals Ltd. (the “Company” or “GBML”) (TSXV: GBML; OTCQB: REZZF; Frankfurt: REZ), an international critical mineral exploration company focused on growth-oriented lithium, copper and battery metal projects, announces the results of its Annual General and Special Meeting (“ASGM”) held Friday, January 31, 2025. Details of the matters approved at the ASGM are set out in the Company’s Management Information Circular dated December 18, 2024, which can be found on the Company’s website at www.gbml.ca and on SEDAR+ at www.sedarplus.ca under the Company’s profile.
At the ASGM, the Company received majority approval to all matters brought before shareholders, including the reappointment of Messrs. Murphy, Matthews, Roberts and Paiement to the Company’s board of directors (“Board”) for the ensuing year. Mr. Bell did not stand for re-election. The Company extends its gratitude to Mr. Bell for his geological expertise and valuable contributions to the Company during his 8-year tenure and wishes him success in his future endeavors.
WDM Chartered Professional Accountants were reappointed as auditor of the Company for the ensuing year at a remuneration to be fixed by the Company’s Board and shareholders ratified the Company’s 10% rolling stock option plan dated May 31, 2022.
Shareholders also passed a special resolution approving the consolidation of all of the issued and outstanding common shares of the Company (“Common Shares”), on a maximum basis of ten (10) pre-consolidated Common Shares for one (1) post consolidated Common Share, to consolidate 78,539,280 currently outstanding Common Shares to approximately 7,853,928 Common Shares (the “Consolidation”), or such lesser number of pre-consolidated Common Shares as may be approved by the Board.
The exercise price and number of Common Shares issuable upon the exercise of any outstanding stock options, common share purchase warrants or other convertible securities will be proportionately adjusted to reflect the Consolidation. The Consolidation will be subject to final acceptance by the TSX Venture Exchange.
Additionally, a special resolution was passed by shareholders approving termination of the Company’s option to acquire up to a 90% interest in the Leinster Lithium Project held by LRH Resources Limited, a wholly-owned subsidiary of Technology Minerals Plc. In consideration for agreeing to the termination, Technology Minerals Plc shall transfer to the Company 284,362 common shares of Critical Metals Corp. (“CRML”), a company listed on NASDAQ. Details of the transaction are set out in the Company’s news releases of April 12, 2024, and November 25, 2024, and the related settlement agreement is filed under the Company’s profile on SEDAR+ at www.sedarplus.ca. The transaction has received conditional approval of the TSX Venture Exchange and the shares of CRML shall be locked up until February 28, 2025, in accordance with the agreement between the parties.
About Global Battery Metals Ltd.
GBML is an international mineral exploration and development company with a focus on lithium, copper and other metals that comprise and support the rapid evolution to battery power. GBML currently maintains economic interests in four battery metal projects: (1) an option to acquire up to a 90% interest in the Leinster Lithium Property (which is the subject matter of the Settlement Agreement); (2) an option to acquire an additional six licenses contiguous to the Leinster Lithium Project from Tancred Resources, covering 249 km2 adjacent to the Knockeen Lithium Pegmatite Project; (3) a 100% interest in the drill-ready Lithium King Property in Utah; and (4) a 55% 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 copper property for staged payments of USD$5.75 million. GBML will retain a 0.75% net smelter return royalty. GBML’s common shares are listed on the Exchange (TSXV: GBML); Frankfurt Stock Exchange (FSE: REZ); and are quoted on the OTC Markets (OTCQB: REZZF).
Global Battery Metals Ltd.
Michael Murphy BA, MBA, MSc., ICD
President & CEO
T: 604-649-2350
E: MM@gbml.ca
W: www.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.
Cautionary Statement Regarding “Forward-Looking” Information
This news release contains certain “forward-looking information” and “forward-looking statements” (collectively “forward-looking statements”) within the meaning of applicable securities legislation. All statements, other than statements of historical fact, included herein, without limitation, statements relating the future operations and activities of the Company, are forward-looking statements. Forward-looking statements are frequently, but not always, identified by words such as “expects”, “anticipates”, “believes”, “intends”, “estimates”, “potential”, “possible”, and similar expressions, or statements that events, conditions, or results “will”, “may”, “could”, or “should” occur or be achieved. Forward-looking statements in this news release relate to, among other things, the Consolidation, including the implementation of and timing related thereto, the termination of the Company’s option to acquire up to a 90% interest in the Leinster Lithium Project, the compensation for such termination, including the receipt of the CRML shares, and the receipt of requisite regulatory approvals. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. Forward-looking statements reflect the beliefs, opinions, and projections on the date the statements are made and are based upon a number of assumptions and estimates that, while considered reasonable by the Company, are inherently subject to significant business, economic, competitive, political and social uncertainties and contingencies. Many factors, both known and unknown, could cause actual results, performance, or achievements to be materially different from the results, performance or achievements that are or may be expressed or implied by such forward-looking statements and the parties have made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation, the ability to obtain regulatory approvals. Readers should not place undue reliance on the forward-looking statements and information contained in this news release concerning these items. Readers are urged to refer to the Company's reports, publicly available through the Canadian Securities Administrators' System for Electronic Document Analysis and Retrieval (SEDAR+) at www.sedarplus.ca for a more complete discussion of such risk factors and their potential effects. The Company does not assume any obligation to update the forward-looking statements of beliefs, opinions, projections, or other factors, should they change, except as required by applicable securities laws.