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Alaska Energy Metals Announces Financing, Drill Program, Advisory Board Formation and Grant of Stock Options
Highlights Alaska Energy Metals plans to raise $4.0 million in a brokered financing at $0.40 per unit; each unit will consist of one common share and one-half o
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":" Highlights Alaska Energy Metals plans to raise $4.0 million in a brokered financing at $0.40 per unit; each unit will consist of one common share and one-half of one share purchase warrant; each whole warrant will entitle the holder to purchase another common share at $0.80 for the next two years. A 4,800m, 12-hole drill program is beginning. An Advisory Board has been formed and includes: Tyron Breytenbach - Respected capital markets veteran, former top mining analyst and investment banker, and a geologist with specialization in nickel. Dr. Larry Hulbert - Retired Geological Survey of Canada geologist with very strong knowledge of magmatic nickel deposits and extensive experience on the Nikolai project. Dr. Alex Steiner - A geologist with specialization in magmatic nickel deposits. VANCOUVER, British Columbia, July 06, 2023 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“Alaska Energy Metals” or the “Company”) announces that it plans to raise $4,000,000 gross proceeds through a brokered private placement (the “Offering”) of units (the “Units”) at a price of $0.40 per Unit. The Company intends to use the net proceeds for drilling to potentially outline a nickel (copper, cobalt, chrome, iron, platinum, palladium, gold) resource at the Eureka Zone of the Nikolai project in Alaska. Drilling of 4,800 meters in 12 holes is planned. This exploration work will be in addition to the previously announced geophysical and geological programs to develop high-grade drilling targets on the Canwell prospects at Nikolai. Alaska Energy Metals has entered into an engagement letter with Emerging Equities Incorporated (“EEI”) as lead agent with rights of syndication. Syndicate members include Canaccord Genuity Corp., Echelon Wealth Partners, Red Cloud Securities Inc., and Cormark Securities Inc. The financing will be done on a best-efforts basis. Each Unit will consist of one common share of the Company and one-half of one share purchase warrant. Each full warrant will entitle the warrant holder to purchase an additional Alaska Energy Metals common share at the price of $0.80 for a term of two years. The securities issued under the Offering will be subject to a four-month hold period. The Offering is subject to receipt of TSX Venture Exchange acceptance. Company President and CEO Gregory Beischer commented: “Foll...