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Be the first with the news that moves the market- Global Elsimate Capital Corp (CSE:GECC) is shifting focus and acquiring a series of new energy metals claims from Marfil Mines Ltd
- The block of claims includes nickel, cobalt and copper properties in Argentina, as well as two lithium claims also in South America
- In exchange for the properties, Global Elsimate will issue 26,666,667 common shares to Marfil, at 75 cents each, for a sum value of C$2 million
- This is a significant pivot for the company, which previously developed data verification software under the name Cryptobloc Technologies Corp
- Global Elsimate Capital Corp (GECC) remains unmoved and is trading at $0.09 a share with a market cap of $2.05 million
Global Elsimate Capital Corp (CSE:GECC) is shifting focus by acquiring new energy metals properties, in a deal valued at C$2 million.
This a significant change in direction for the company, which previously developed data verification software, under the name Cryptobloc Technologies Corp.
It was during a recent management shift that the company decided to shift focus to battery metal assets.
Resources like lithium and cobalt have recently become of more interest to the mining industry, as the they’re are required in the fast-growing ion-battery industry.
Global Elsimate is purchasing the properties from Marifil Mines Ltd. In exchange for the properties, Global Estimate will issue 26,666,667 common shares to Marfil at 75 cents each.
The acquisition includes nickel, cobalt and copper resources in Argentina, as well as two lithium claims also in South America.
Concurrently, Marfil Mines is also pivoting its direction. Marfil announced that it sold these assets to Global Elsimate as part of a transition towards gold, given the metal’s recent strong performance.
Global Elsimate’s CEO, Bryson Goodwin, stated the ongoing COVID-19 pandemic will only quicken the transition to ion battery-based energy.
He noted the massive improvement in clean air and water, since government-mandated shutdowns have come into effect across the globe. Bryson believes these noticeable effects will encourage countries and individuals to move away from traditional energy sources.
“We expect that society will only continue and accelerate the conversion to hybrid and electric vehicles.
“Positioning our shareholders to be in a position to supply this demand not only seemed logical but vital to long term principles,” he said.
Global Elsimate Capital Corp (GECC) remains unmoved and is trading at $0.09 a share at 2:01am EST.
