Business
Western Alaska Minerals Announces C$1.5 Million Non-brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Alaska Silver Corp
[{"type":"text","content":"Western Alaska Minerals Announces C$1.5 Million Non-brokered Private PlacementNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESTUCSON, AZ / ACCESSWIRE / August 21, 2023 / Western Alaska Minerals (the \"Company\" or \"WAM\") (TSXV:\"WAM\") is pleased to announce that it intends to complete a non-brokered private placement to raise gross proceeds of up to C$1,500,001 (the \"Offering\") through the sale of up to 731,708 units (each a \"Unit\") at C$2.05 per Unit. The Offering is not subject to any minimum aggregate subscription. Each Unit shall consist of one subordinate voting share of the Company (a \"Share\") and one-half of one subordinate voting share purchase warrant (each whole warrant, a \"Warrant\").Each Warrant shall be exercisable for a period of 36 months from the closing date into one additional subordinate voting share of the Company (a \"Warrant Share\") at a price of C$3.15. The Offering is expected to close on or around September 7, 2023 (the \"Closing Date\").The gross proceeds of the Offering will be used to fund the Company's continuing exploration program, including drilling targets generated by the results of drill hole LH23-05 (see August 14, 2023 News Release) and for general corporate purposes.The completion of the Offering is subject to the receipt of acceptance by the TSX Venture Exchange (the \"Exchange\"). All securities issued in connection with the Offering will be subject to a statutory hold period expiring four months plus one day from the Closing Date. Finders' fees may be payable in connection with the sale of the Units in accordance with the policies of the Exchange.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the \"U.S. Securities Act\") or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.About WAMWAM is an Alaska and Arizona based company, listed on the TSX-V and focused on discovery of high-grade, district-scale ore systems in the historic Illinois Creek Mi...