Business
Western Alaska Minerals Announces Closing of $7M Brokered Offering
NOT FOR DISTRIBUTION TO UNITED STATED NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATE...
About this update from Alaska Silver Corp
[{"type":"text","content":"Western Alaska Minerals Announces Closing of $7M Brokered OfferingNOT FOR DISTRIBUTION TO UNITED STATED NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESTUCSON, AZ / ACCESSWIRE / May 4, 2023 / Western Alaska Minerals (the \"Company\" or \"WAM\") (TSXV:WAM) announces that it has closed its previously announced brokered private placement for aggregate proceeds of C$7,007,815 (the \"Offering\"). The Offering was led by Agentis Capital Markets Limited Partnership and Canaccord Genuity Corp., as co-lead agents, on behalf of themselves and on behalf of a syndicate of agents that included Stifel Nicolaus Canada Inc., Roth Canada Inc., and Independent Trading Group Inc. (collectively, the \"Agents\").In connection with the Offering the Company issued a total of 2,982,049 units (each a \"Unit\") at a price of C$2.35 per Unit (the \"Offering Price\"). Each Unit is comprised of one common share in the authorized share structure of the Company (a \"Share\") plus one-half of one Share purchase warrant (each whole such warrant, a \"Warrant\"). Each Warrant entitles the holder thereof to purchase one Share (a \"Warrant Share\") at an exercise price of C$3.15 per Warrant Share for a period of 36 months.\"We are eager to put these funds to work right away. Drill crews will be mobilizing on May 20-21 and two drill rigs will be turning soon afterwards to test the coincident geophysical and geochemical anomalies that appear to outline the continuation of the exceptionally high-grade Waterpump Creek discovery made last summer. This marks an exciting start to an anticipated fruitful summer advancing district-scale exploration at our Illinois Creek Property in Alaska.\" commented President & CEO Kit Marrs. \"We are very pleased to welcome new shareholders to our registry and are equally appreciative of the support of existing major shareholders who participated in the financing.\"The net proceeds of the Offering will be used to fund the Company's 2023 exploration program which includes step-out drilling to expand the footprint of the bonanza silver-zinc-lead mineralization of the Waterpump Creek carbonate replacement deposit (\"CRD\"), explore targets identified by the newly completed 3D inversions of historical IP geophysical data and the CSAMT geophysical survey completed in 2022 (See News Release of Feb. 28, 2023), and general corpor...