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Alaska Energy Metals Announces Increase to Brokered Private Placement and a Sidecar Financing
VANCOUVER, British Columbia, July 19, 2023 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“Alaska Energy Metals” or the “Comp
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":" VANCOUVER, British Columbia, July 19, 2023 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“Alaska Energy Metals” or the “Company”) reports that the brokered private placement announced in its news release of July 6, 2023 (“Brokered Private Placement”) has been increased to 21,250,000 units (the “Units”) at a price of $0.40 per Unit, for gross proceeds of up to $8,500,000. Each Unit will consist of one common share in the capital of the Company (each, a “Common Share”) and one-half of one Common Share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder thereof to purchase an additional Common Share (each, a “Warrant Share”) at a price of $0.80 for a term of two (2) years from the date of issuance. The Company engaged Emerging Equities Inc. as lead agent (the “Lead Agent”), on behalf of a syndicate of agents including Canaccord Genuity Corp., Echelon Wealth Partners, Red Cloud Securities Inc. and Cormark Securities Inc. (together with the Lead Agent, the “Agents”), to raise a minimum of $4,000,000 on a commercially reasonable best efforts basis. Under the amended engagement letter with Emerging Equities the syndicate may raise up to $8,500,000 on a commercially reasonable best efforts basis. A portion or all of the Brokered Private Placement may be completed pursuant to Multilateral CSA Notice 45-313 – Prospectus Exemption for Distributions to Existing Security Holders (“CSA 45-313”) and the corresponding blanket orders and rules implementing CSA 45-313 in the participating jurisdictions in respect thereof (collectively with CSA 45-313, the “Existing Security Holder Exemption”). As at the date hereof, the Existing Security Holder Exemption is available in each of the offering jurisdictions (being, British Columbia, Alberta, Ontario and Saskatchewan) (the “Offering Jurisdictions”). Subject to applicable securities laws, the Company will permit each person or company who, as of July 14, 2023 (being the record date set by the Company pursuant to CSA 45-313), holds Common Shares as of that date to subscribe for up to $15,000 (or 37,500 Units) in Units that will be distributed pursuant to the Brokered Private Placement, provided that the Existing Security Holder Exemption is available to such person or company. Qualifying shareholders who wish to participate...