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Alaska Energy Metals Announces Financings
VANCOUVER, British Columbia, May 12, 2023 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: MLRKF) (“Alaska Energy Metals” or the “Compa
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, May 12, 2023 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: MLRKF) (“Alaska Energy Metals” or the “Company”) announces that it plans to raise funds through two concurrent equity private placements. One financing will use the listed issuer financing exemption under section 5A.2 of National Instrument 45-106 Prospectus Exemptions (the “LIFE PP Offering”) and the second financing will use other prospectus exemptions (the “Standard Equity Offering”). LIFE PP Offering Under the LIFE PP Offering, minimum gross proceeds of CAD$1,799,000 and maximum gross proceeds of CAD$2,142,000 are to be raised through a non-brokered private placement. Under the LIFE PP Offering, a minimum of 6,425,000 common shares and maximum of 7,650,000 common shares will be issued at a price of CAD$0.28 per share. The proceeds of the LIFE PP Offering are intended to be used primarily for exploration on the Canwell block of claims on the Company’s Nikolai project where very high grade nickel – copper – gold – platinum group element mineralization is exposed at surface. There is an offering document related to the LIFE PP Offering that can be accessed under the Company’s profile at www.sedar.com and at www.alaskaenergymetals.com. Prospective investors should read this offering document before making an investment decision. The LIFE PP Offering is subject to receipt of TSX Venture Exchange acceptance. Finder’s fees of up to 8% cash (which may instead be payable in common shares of the Company) and 8% finder’s warrants (the “LIFE PP Offering Finder’s Warrants”) may be paid in connection with the Life PP Offering. The LIFE PP Offering Finder’s Warrants will entitle the holder to purchase one Alaska Energy Metals common share at a price of $0.28 for a period of twelve months and will be non-transferable. A CAD$30,000 due diligence fee is also payable. Standard Equity Offering Under the Standard Equity Offering, the Company intends to raise gross proceeds of CAD$450,000 through a non-brokered private placement. If the full amount is raised, 1,607,143 common shares would be issued. Common shares of the Company will be sold at CAD$0.28 per share. The gross proceeds from the Standard Equity Offering will be used primarily to do metallurgical studies on drill samples (approximately CAD$300,000) collected from th...