Breaking Mining News: Alaska Energy Metals (TSXV: $AEMC) (OTCQB: $AKEMF)
Announces Closing of $1 Million Special Warrant Offering; @AKEnergyMetals
VANCOUVER, British Columbia - February 9, 2024
(Investorideas.com Newswire) 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 Metals
Alaska Energy Metals Corporation is focused on delineating and
developing a large polymetallic exploration target containing nickel, copper,
cobalt, chrome, iron, platinum, palladium, and gold at the Nikolai Nickel
Project. Located in central Alaska 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.
Additionally, the company is exploring the Angliers Nickel Project in Western
Quebec.
ON BEHALF OF THE BOARD
"Gregory Beischer"
Gregory Beischer, President & CEO
FOR
FURTHER INFORMATION, PLEASE CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164
Sarah Mawji, Public Relations
Final 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 it will drill holes to test the Canwell, Odie and
Emerick prospects and do more geophysical surveys in 2024. 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.
Alaska Energy Metals Corporation (TSXV: AEMC)
(OTCQB: AKEMF) (FRA: V7F) is a featured mining stock on Investorideas.com
More info on AEMC at Investorideas.com Visit: https://www.investorideas.com/CO/AEMC/
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