Business
Wealth Minerals Closes $1.58 million Initial Tranche of Non-Brokered Private Placement
**NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES** VANCOUVER, British Columbia, April 18, 2019 (GLOBE NEWSWI
About this update from Wealth Minerals Ltd.
[{"type":"text","content":" **NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES** VANCOUVER, British Columbia, April 18, 2019 (GLOBE NEWSWIRE) -- Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSXV: WML; OTCQX: WMLLF; SSE: WMLCL; Frankfurt: EJZ), announces it has closed an initial tranche of their non-brokered private placement previously announced on March 22, 2019 (the “Placement”). On April 11, 2019, a total of 3,960,911 units (each, a “Unit”) were issued under the Placement at a price of $0.40 per Unit for gross proceeds of $1,584,364.40. Each Unit consists of one common share in the capital of the Company (each, a “Share”) and one‑half of one common share purchase warrant, with each whole warrant (each, a “Warrant”) entitling the holder to acquire one additional Share at a price of $0.75 per Share for a period of up to two years, expiring on April 11, 2021. In the event that the closing price of the Shares on the TSX Venture Exchange is at least $1.50 per Share for a period of 10 consecutive trading days commencing four months and one day after the closing of the Placement, the Company may accelerate the expiry date of the Warrants by providing notice to the shareholders thereof and, in such case, the Warrants will expire on the 30th day after the date on which such notice is given by the Company. All securities issued by the Company pursuant to the Placement will have a four month and one day hold period in Canada ending on August 12, 2019. In connection with the Placement, the Company paid aggregate finder’s fees of 24,710 Units, which Units were issued to Canaccord Genuity Corp. and 53,865 Broker Warrants, which Broker Warrants issued to Canaccord Genuity Corp., Haywood Securities Inc. and BMO Nesbitt Burns, each Broker Warrant entitles the holder to purchase one common share at a price of $0.40 for one year. The Units issued as finder’s fees have the same terms and conditions as the Units issued under the Placement, provided that the Warrants forming part of the Units issued as finder’s fees are non‑transferable. The Company also paid an aggregate $11,620.00 in cash finder’s fees to Haywood Securities Inc. and BMO Nesbitt Burns. The Company also reports that it is extending the final closing of the Placement to May 3, 2019. The net proceeds fr...