Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF)
(“
AEMC” or the “
Company”) is
pleased to announce the closing of a non-brokered offering of
2,500,000 special warrants (the “
Special
Warrants”) issued at the price of $0.40 per Special
Warrant for gross proceeds of $1,000,000 (the
“
Offering”).
Each Special Warrant will automatically convert into one unit of
the Company (each a “Unit”), as described below.
Each Unit shall consist of one common share of the Company (a
“Share”) and one-half of one common share purchase
warrant (each full warrant, a “Warrant”). Each
Warrant shall entitle the holder thereof to acquire one Share at a
price of $0.80 per Share for a period of 24 months following the
date of issue.
Each Special Warrant will automatically convert, for no
additional consideration, into Units on the date (the
“Qualification Date”) that is the earlier of: (i)
the date that is three business days following the date on which
the Company (a) obtains a receipt from the applicable securities
regulatory authorities (the “Securities
Commissions”) for a (final) short form prospectus
qualifying distribution of the Units underlying the Special
Warrants (the “Qualifying Prospectus”) or (b)
files a prospectus supplement to a short form base shelf prospectus
with the Securities Commissions qualifying distribution of the
Units underlying the Special Warrants (the “Prospectus
Supplement”), and (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
obtain a receipt from the Securities Commissions for the Qualifying
Prospectus or 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 Qualifying
Prospectus or a receipt therefor will be issued by the Securities
Commissions, or a Prospectus Supplement will be filed with the
Securities Commissions, prior to the expiry of the statutory four
month hold period.
The Company paid finder’s fee of $4,000 to Research Capital
Corporation and $8,000 to Canaccord Genuity Corp., being 8% of the
gross proceeds raised by each such finder. As settlement for the
finder’s fees, the Company issued to Research Capital Corporation
10,000 broker special warrants (each a “Broker Special
Warrant”) and to Canaccord Genuity Corp. 20,000 Broker
Special Warrants at the deemed issue price of $0.40. Each Broker
Special Warrant will automatically convert, for no additional
consideration, into one Share on the Qualification Date.
The net proceeds from the Offering will be used for working
capital and marketing purposes.
Prior to the filing of the Qualifying Prospectus or Prospectus
Supplement and the automatic conversion of the Special Warrants and
the Broker 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.
In its news release of December 28, 2023, the Company reported
that 140,000 finder’s warrants were issued in connection with the
closing of its flow-through private placement. Each finder’s
warrant is exercisable for one common share of the Company at a
price of $0.39 per share for a term of two years.
For additional information, visit:
https://alaskaenergymetals.com/
About Alaska Energy MetalsAlaska Energy Metals
Corporation is focused on delineating and developing a large
polymetallic exploration target containing nickel, copper, cobalt,
chrome, iron, platinum, palladium, and gold. Located in central
Alaska, the Nikolai Nickel project is located near existing
transportation and power infrastructure, the project is
well-situated to become a significant, domestic source of critical
and strategic energy-related metals for the American market. The
Company is also exploring the Belleterre Nickel project in
Quebec.
ON BEHALF OF THE BOARD“Gregory Beischer”Gregory
Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:Gregory
A. Beischer, President & CEOToll-Free: 877-217-8978 | Local:
604-638-3164
Sarah Mawji, Public RelationsFinal Edit Media and Public
Relations Email: sarah@finaleditpr.com
Some statements in this news release may contain forward-looking
information (within the meaning of Canadian securities
legislation), including, without limitation, that the Company will
file a Qualifying Prospectus and obtain a receipt therefor, or file
a Prospectus Supplement, qualifying the Units for distribution, and
the use of proceeds from the Offering. 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 guarantees 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.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release.
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