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Alaska Energy Metals Provides Update to Previously Announced Special Warrant and Unit Offering
Highlights: Alaska Energy Metals cancels offering announced on August 9, 2024, at $0.17 per Special Warrants and/or Units. Due to market prices, Alaska Energy M
About this update from Alaska Energy Metals Corporation
[{"type":"text","content":" Highlights: Alaska Energy Metals cancels offering announced on August 9, 2024, at $0.17 per Special Warrants and/or Units. Due to market prices, Alaska Energy Metals will undertake an offering of Special Warrants and Units at $0.15. VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or “Alaska Energy Metals” or the “Company”) announces that it is canceling the non-brokered offering of up to $5 million in a combination of special warrants (the “Special Warrants”) and/or units (the “Units”), to be issued at the price of $0.17 per Special Warrant or Unit, as applicable, announced on August 9, 2024. Due to market prices, the Company will now undertake a non-brokered offering of Special Warrants and/or Units at the price of $0.15 per Special Warrant or Unit, as applicable, for aggregate gross proceed of up to $5 million (the “Offering”). Each Special Warrant will automatically convert into one Unit of the Company, as described below. 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. Each Special Warrant 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 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 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 Prospectus Supplement will be filed with the securities commissions, prior to the expiry of the statutory four-month hold period. The Company will pay cash finder’s fees of 7% of the gross proceeds to certain finders. As additional compensation the Company will issue that number of non-transferable broker warrants (each a ...