Business
Wealth Minerals Provides Early Warning Report
Vancouver, British Columbia--(Newsfile Corp. - September 1, 2022) - Wealth Minerals Ltd. (TSXV...
About this update from Wealth Minerals Ltd.
[{"type":"text","content":"Wealth Minerals Provides Early Warning ReportVancouver, British Columbia--(Newsfile Corp. - September 1, 2022) - Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the \"Company\" or \"Wealth\"), makes the following announcement in accordance with National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting (\"NI 62-103\") and National Instrument 62-104 Take-Over Bids and Issuer Bids (\"NI 62-104\").Pursuant to (i) the exercise of contractual options (each, an \"Option\") to purchase common shares (each, a \"WCU Common Share\") in the capital of World Copper Ltd. (\"WCU \") held by Wealth Minerals by certain Option holders (each, an \"Option Holder\") at a price of $0.33 per WCU Common Share (for proceeds of $449,121.09), and (ii) the transfer of WCU Common Shares as bonus payments to certain directors, officers and consultants of the Company (for no proceeds), Wealth Minerals reports that it has disposed ownership of an aggregate of 2,400,973 WCU Common Shares between December 23, 2021 and September 1, 2022 (the \"Disposition\").Immediately prior to the Disposition, Wealth Minerals beneficially owned and had control and direction over an aggregate of 21,558,530 WCU Common Shares, representing approximately 43.26% of the issued and outstanding WCU Common Shares on a non-diluted basis. Immediately after the Disposition, Wealth Minerals beneficially owns and has control and direction over an aggregate of 19,157,557 WCU Common Shares, representing approximately 17.03% of the issued and outstanding WCU Common Shares on a non-diluted basis, as a result of the Disposition and the issuance of WCU Common Shares by WCU to other parties in the intervening period. The change in Wealth Minerals' securityholding percentage of WCU Common Shares is a decrease of approximately 26.23%.Wealth Minerals also has ownership of a special warrant (the \"Special Warrant\"), representing 100% of the issued and outstanding special warrants of WCU. The Special Warrant entitles the holder thereof to acquire upon the deemed exercise of the Special Warrant, for no additional consideration, up to 8,148,900 WCU Common Shares from time to time, upon the exercise of any of the common share purchase warrants of WCU (the \"WCU Warrants\") which were issued and outstanding as of January 15, 2021. The Disp...