Business
Wealth Closes $540,000 Non-Brokered Flow-through Private Placement
VANCOUVER, BC / ACCESSWIRE / December 29, 2015 / Wealth Minerals Ltd. (TSXV: WML) (FSE: EJZ)...
About this update from Wealth Minerals Ltd.
[{"type":"text","content":"Wealth Closes $540,000 Non-Brokered Flow-through Private PlacementVANCOUVER, BC / ACCESSWIRE / December 29, 2015 / Wealth Minerals Ltd. (TSXV: WML) (FSE: EJZ) (SSE: WMLCL) (the \"Company\" or \"Wealth\"), announces the closing today of a non-brokered private placement of flow-through common shares (the \"Offering\").\nThe Company sold 3,000,000 flow-through common shares (\"Shares\") at a price of $0.18 per Share for aggregate gross proceeds of $540,000. The Shares are all subject to a hold period in Canada expiring on April 29, 2016.\nIn connection with the Offering the Company paid cash finder's fees of $43,200 to Secutor Capital Management Corp. (\"Secutor\") and issued 120,000 non-transferrable common share purchase finders warrants (\"Warrants\") to each of Secutor and Marquest Asset Management Inc. Each Warrant is exercisable to purchase one common share of the Company at a price of $0.18 until April 29, 2017. The gross proceeds from the Offering are intended to be used to incur qualified expenditures on the Company's mineral projects in Quebec.\nThe Company is currently involved in the review and evaluation of a number of additional mineral projects for possible acquisition. However, no agreements with respect to the acquisition of any mineral projects have yet been entered into, and there can be no assurance that the Company will, in fact, be successful in entering into any such agreements or acquiring interests in any additional mineral properties.\nThe foregoing securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (the \"1933 Act\") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.\nABOUT WEALTH MINERALS LTD.\nWealth is an early stage mineral exploration company with listings on the TSX Venture, Santiago and Frankfurt Stock Exchanges. Wealth's strategy is to acquire projects in stable ge...