Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF)
(“AEMC” or the “Company”) is pleased to announce that it has closed
its non-brokered offering of special warrants to raise $4,520,000,
and its concurrent, non-brokered private placement of units for
proceeds of $480,000. Combined with the closing of offerings
announced on July 8 and July 11 2024, the total gross proceeds of
both financings is $8,679,564. Gregory Beischer, President and CEO
of Alaska Energy Metals, commented:
"Having attracted this level of financing speaks to the quality
of the Nikolai Nickel Project, confidence in our exploration team
and plans, and also to our new company directors, who are in place
to assist in fully unlocking value for all of our
shareholders."
Special Warrant Offering
For this offering, 30,133,330 special warrants (the
“Special Warrants”) were issued at the price of
$0.15 per Special Warrant for gross proceeds of $4,520,000 (the
“Offering”). Each Special Warrant will automatically convert into
one unit of the Company (each a “Unit”). Each Unit
shall consist of one common share of the Company (a
“Share”) and one common share purchase warrant (a
“Warrant”). Each Warrant shall entitle the holder
thereof to acquire one Share at a price of $0.20 per Share for a
period of three years following the date of issue. The Special
Warrants will automatically convert, for no additional
consideration, into Units on the date that is the earlier of: (i)
the date that is three business days following the date on which
the Company files a prospectus supplement to a short form base
shelf prospectus with the applicable securities regulatory
authorities qualifying distribution of the Units underlying the
Special Warrants (the “Prospectus Supplement”), or
(ii) the date that is four months and one day after the closing of
the Offering.
The Company will use its commercially reasonable efforts to file
the Prospectus Supplement within 60 days of the closing of the
Offering (not including the date of closing), provided however,
that there is no assurance that a Prospectus Supplement will be
filed with the securities commission prior to the expiry of the
statutory four month hold period.
The Company paid aggregate cash finder’s fees of approximately
$218,726 to certain finders, being 7% of the gross proceeds raised
by each such finder. As additional compensation, the Company issued
an aggregate of 1,458,176 non-transferable broker warrants (each a
“Broker Warrant”) to the respective finders. Each
Broker Warrant is exercisable for one Share at the exercise price
of $0.20 for a period of three years.
Prior to the filing of the Prospectus Supplement and the
automatic conversion of the Special Warrants, the securities issued
under the Offering will be subject to a four-month hold period from
the date of closing of the Offering, in addition to any other
restrictions under applicable law.
Unit Offering
In this non-brokered private placement
(“NBPP”), a total of 3,200,000 units (the
“NBPP Units”) were sold for gross
proceeds of $480,000. Each NBPP Unit consists of one Share and one
Warrant. Each Warrant shall entitle the holder to acquire one Share
at a price of $0.20 per Share for a period of three years following
the date of issue. The Company paid aggregate cash finder’s fees of
$33,600 to a certain finder, being 7% of the gross proceeds raised.
As additional compensation, the Company issued an aggregate of
224,000 Broker Warrants to the finder. The securities issued in
connection with the NBPP will be subject to a four-month hold
period, in accordance with applicable securities laws.
The net proceeds from the Offering and the NBPP
will be used for Canwell prospect drilling and Eureka deposit
drilling at the Nikolai Nickel Project in Alaska, metallurgical
studies on drill cores from the Eureka deposit, working capital, as
well as for marketing purposes.
For additional information, visit:
https://alaskaenergymetals.com/
About Alaska Energy Metals
Alaska Energy Metals Corporation is an
Alaska-based corporation with offices in Anchorage and Vancouver
working to sustainably deliver the critical materials needed for
national security and a bright energy future, while generating
superior returns for shareholders.
AEMC is focused on delineating and developing
the large-scale, bulk tonnage, polymetallic Eureka deposit
containing nickel, copper, cobalt, chromium, iron, platinum,
palladium, and gold. Located in Interior Alaska near existing
transportation and power infrastructure, its flagship project,
Nikolai, is well-situated to become a significant domestic source
of strategic energy-related metals for North America. AEMC also
holds a secondary project, ‘Angliers-Belleterre,’ in western
Quebec. Today, material sourcing demands excellence in
environmental performance, carbon mitigation, and the responsible
management of human and financial capital. AEMC works every day to
earn and maintain the respect and confidence of the public and
believes that ESG performance is measured by action and led from
the top.
ON BEHALF OF THE BOARD“Gregory Beischer”Gregory
Beischer, President & CEOFOR FURTHER INFORMATION,
PLEASE CONTACT:Sarah Mawji, Public RelationsVenture
StrategiesEmail: sarah@venturestrategies.com
Forward-Looking Statements
Some statements in this news release may contain
forward-looking information (within the meaning of Canadian
securities legislation), including, without limitation, the closing
of the Offering, receipt of approval for the offering including the
approval of the TSXV, the statements as to the filing of the
Prospectus Supplement, the use of proceeds, to drill exploratory
drill holes at the Canwell prospects and Eureka deposit, and to
perform metallurgical studies. These statements address future
events and conditions and, as such, involve known and unknown
risks, uncertainties, and other factors which may cause the actual
results, performance, or achievements to be materially different
from any future results, performance, or achievements expressed or
implied by the statements. Forward-looking statements speak only as
of the date those statements are made. Although the Company
believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guaranteeing of future performance and actual results may
differ materially from those in the forward-looking statements.
Factors that could cause the actual results to differ materially
from those in forward-looking statements include regulatory
actions, market prices, and continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the statements are
made. Except as required by applicable law, the Company assumes no
obligation to update or to publicly announce the results of any
change to any forward-looking statement contained or incorporated
by reference herein to reflect actual results, future events or
developments, changes in assumptions, or changes in other factors
affecting the forward-looking statements. If the Company updates
any forward-looking statement(s), no inference should be drawn that
it will make additional updates with respect to those or other
forward-looking statements.
This news release does not constitute an offer
for sale, or a solicitation of an offer to buy, in the United
States or to any “U.S Person” (as such term is defined in
Regulation S under the U.S. Securities Act of 1933, as amended (the
“1933 Act”)) of any equity or other securities of
the Company. The securities of the Company have not been, and will
not be, registered under the 1933 Act or under any state securities
laws and may not be offered or sold in the United States or to a
U.S. Person absent registration under the 1933 Act and applicable
state securities laws or an applicable exemption therefrom.
Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in policies
of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.
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