Patriot Battery to combine with Global Green Energy

Patriot Battery Metals Inc. [CSE-PMET, OTCQB-RGDCF, FSE-R9GA] revealed that it has actually participated in an amalgamation arrangement dated July 20, 2021 with Global Green Energy Acquisition Corp., an arm’s length personal British Columbia corporation, and REE Metals Inc., a wholly-owned subsidiary of the Business, pursuant to which Patriot will obtain all of the provided and impressive typical shares of Global Green by method of “three-cornered” amalgamation.

Worldwide Green is a personal British Columbia mineral expedition corporation which, prior to the closing of the Deal, will have gotten a 100%legal and helpful interest in the Maicasagi Rare Earth Aspect Residential or commercial property situated in the Abitibi Area of Québec Canada.

The Maicasagi Home includes 2 claim blocks, positioned 9 km apart, that include an overall acreage of roughly 5,989 ha. The claim blocks lie roughly 220 km north-northeast of the town of Val d’Or and 80 km east of Matagami in the Province of Québec, Canada. The Home might be accessed through a network of forestry roadways which run throughout the area and link to the close-by neighborhoods of Waswanipi and Matagami.

The Home is thought about potential for unusual earth aspects with a rock sample of “silicocarbonatite” outcrop gathered in 2006 from the northern most claim block, which returned an assay of roughly 0.4%unusual earth oxide. The sample was gathered around 10 km north of the Montviel Carbonatite Complex, which is host to the Montviel Rare Earth Deposit held by Geomega Resources Inc[TSXV-GMA] The historic 2006 sample from the Business’s Maicasagi Residential or commercial property recommends prospective for extra unusual earth component events in the area.

Pursuant to the Arrangement, Patriot will obtain all of the released and impressive Global Green Shares by method of a “three-cornered” amalgamation where REE and Global Green will join together pursuant to the arrangements of the Service Corporations Act ( British Columbia) to form one corporation, which will continue under the name “REE Metals Inc.”, an entirely owned subsidiary of the Business.

In factor to consider for the Global Green Shares, the Business has actually accepted release an aggregate of 22,001,000 typical shares in the capital of the Business, representing 1,000 Shares for each one Global Green Share provided and impressive right away prior to the closing of the Deal. Each Share to be released in connection with the Deal is to be released at a considered rate of $0.2475 per Share and topic to a voluntary lock-up where the recipient investor will not provide, problem, promise, offer such Share other than in accordance with the following release schedule: 20%on the date of closing; 20%on the date that is 30 days from the Closing Date; 20%on the date that is 60 days from the Closing Date; 20%on the date that is 90 days from the Closing Date; and 20%on the date that is 150 days from the Closing Date.

The Deal undergoes particular conditions, consisting of, the invoice of all needed approvals, waivers and approvals, consisting of the essential filings and approval of the CSE; Global Green having actually finished the Maicasagi Residential or commercial property Acquisition; there having actually been no product unfavorable impact accompanying regard to the Business or International Green; and other closing conditions popular for deals of this nature.

Following the Closing, Patriot is anticipated to have 56,080,605 Shares released and impressive on a pure basis. Appropriately, the previous Global Green investors are anticipated to own roughly 39.23%of the Shares at the time of Closing. No modifications to management or to the board of directors of the Business are to accompany the Closing. No finder’s charges are payable in connection with the Deal.