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Alaska Energy Metals Closes $5 Million Special Warrant and Unit Offering; Nikolai Nickel Project Exploration Well Underway With More Than $8.68 Million Recently Raised
Highlights: An additional $5,000,000 has been raised in a second round of Special Warrant and Unit offerings, following on from first round offerings totaling $
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":" Highlights: An additional $5,000,000 has been raised in a second round of Special Warrant and Unit offerings, following on from first round offerings totaling $3,679,564 closed in July. More than $8.68 million has been raised between the two recent offerings. Alaska Energy Metals is now adequately funded for the drilling program planned and underway at the Nikolai nickel project in Alaska; drilling commenced in July and has been completed on the Canwell prospects. Drilling is underway to test for extensions of the Eureka nickel deposit. Metallurgical studies to determine metal recovery rates have been initiated. VANCOUVER, British Columbia, Sept. 05, 2024 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased to announce that it has closed its non-brokered offering of special warrants to raise $4,520,000, and its concurrent, non-brokered private placement of units for proceeds of $480,000. Combined with the closing of offerings announced on July 8 and July 11 2024, the total gross proceeds of both financings is $8,679,564. Gregory Beischer, President and CEO of Alaska Energy Metals, commented: \"Having attracted this level of financing speaks to the quality of the Nikolai Nickel Project, confidence in our exploration team and plans, and also to our new company directors, who are in place to assist in fully unlocking value for all of our shareholders.\" Special Warrant Offering For this offering, 30,133,330 special warrants (the “Special Warrants”) were issued at the price of $0.15 per Special Warrant for gross proceeds of $4,520,000 (the “Offering”). Each Special Warrant will automatically convert into one unit of the Company (each a “Unit”). Each Unit shall consist of one common share of the Company (a “Share”) and one common share purchase warrant (a “Warrant”). Each Warrant shall entitle the holder thereof to acquire one Share at a price of $0.20 per Share for a period of three years following the date of issue. The Special Warrants will automatically convert, for no additional consideration, into Units on the date that is the earlier of: (i) the date that is three business days following the date on which the Company files a prospectus supplement to a short form base shelf prospectus with the applicable securities regulatory authorities qualifying distribution o...