Vancouver, B.C., May 21, 2015 - Global Minerals Ltd. (TSX V: CTG; Frankfurt: DFPM - "Global" or the "Company") announces the information circular with detailed information on the proposed divestiture of its Strieborná Project in Slovakia, as announced on April 17, 2015, has been prepared and distributed to shareholders. The information circular is also available on SEDAR and on the Company's website. The proposed transaction requires shareholder approval under British Columbia corporate law and TSX Venture Exchange rules and the Company is seeking shareholder approval for the transaction at an upcoming special shareholders meeting to be held on Tuesday, June 9, 2015 at 10:00 a.m. at the offices of the Company, Suite 615, 800 West Pender Street, Vancouver, British Columbia. Shareholders can also vote by proxy.
Management of the Company would like to reiterate that it can no longer afford to operate and retain the Strieborná Project. A vote in favor of the decision to divest the Project would leave the Project to a third party in order to meet our commitments to the local community and to provide the best outcome for our employees. A vote against would result in a protracted bankruptcy where no value is retained by any of the shareholders or stakeholders. This has been a difficult decision for the entire team at Global Minerals, who like you, are shareholders. With the current weak state of the capital markets and low silver prices, the Company could not find any other alternative.
For further information about Global, visit www.globalminerals.com, or contact Tim McCutcheon, CEO at [email protected], 877.356.0674.
FORWARD-LOOKING STATEMENTS AND FORWARD-LOOKING INFORMATION: This news release contains certain "forward-looking statements" within the meaning of applicable Canadian securities laws. Forward-looking statements and forward-looking information are frequently characterized by words such as "plan," "expect," "project," "intend," "believe," "anticipate", "estimate" and other similar words, or statements that certain events or conditions "may" or "will" occur.
FORWARD-LOOKING STATEMENTS are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those projected in the forward-looking statements. These factors include the inherent risks involved in the exploration and development of mineral properties, the uncertainties involved in interpreting drilling results and other geological data, fluctuating metal prices, the possibility of projectcost overruns or unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and other factors. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change. The reader is cautioned not to place undue reliance on forward-looking statements.
Readers are advised that National Instrument 43‑101 of the Canadian Securities Administrators requires that each category of mineral reserves and mineral resources be reported separately. Readers should refer to the continuous disclosure documents filed by Global and available at www.sedar.com, for detailed information, which is subject to the qualifications and notes set forth therein.
The mineral resources are reported in accordance with Canadian Securities Administrators' National Instrument 43-101 and have been estimated in conformity with generally accepted CIM Estimation of Mineral Resource and Mineral Reserves Best Practices Guidelines. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that all or any part of the mineral resource will be converted into mineral reserve.
Neither the TSX Venture Exchange nor the Investment Industry Regulatory Organization of Canada accepts responsibility for the adequacy or accuracy
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