On August 3, 2023, Global Energy Metals Corporation closed the transaction. The company will issue 3,165,608 shares at a price of CAD 0.1 per common share for gross proceeds of CAD 316,560.8 in the transaction. The transaction included participation from Gleason & Sons LLC, officers, and directors of the company for 2,765,608 common shares, and returning investor, Stefan Gleason for 1,750,000 common shares. All securities issued in this closing of the private placement are subject to statutory four month plus a day, hold periods expiring on December 4, 2023. The private placement remains subject to obtaining final approval of the TSX Venture Exchange. The common shares will be issued on a private placement basis pursuant to exemptions from prospectus requirements under applicable securities laws, and will be subject to a statutory hold period of four months and one day from the date of issuance. No finder's fees will be paid in connection with the private placement.

The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement. The transaction included participation from 6 placees including existing insider involvement of 4 insiders for 2,765,608.