Business
Western Alaska Minerals Corp. Announces C$8.2 Million Non-Brokered Private Placement
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED ...
About this update from Alaska Silver Corp
[{"type":"text","content":"Western Alaska Minerals Corp. Announces C$8.2 Million Non-Brokered Private PlacementNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESTUCSON, AZ / ACCESSWIRE / August 5, 2022 / Western Alaska Minerals Corp. (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$8,200,000 (the \"Offering\") through the sale of up to 2,000,000 common shares (each a \"Share\") at C$4.10 per Share. The Offering is not subject to any minimum aggregate subscription.The gross proceeds of the Offering will be used predominantly to fund the extension of the Company's 2022 exploration program through year-end and which, using the two Company-owned drill rigs, would bring the summer's drilling meterage to approximately 10,500 meters. The core focus of the 2022 program remains step-out drilling of the Waterpump Creek carbonate replacement deposit (\"CRD\") to gauge the overall footprint of the bonanza silver/zinc/lead mineralization encountered in 2021 and further explored in 2022. The proceeds will additionally be used to further explore along trend in the Last Hurrah area based on the recently completed system-wide CSAMT (controlled-source audio-magnetotellurics) program, initial metallurgical studies and ongoing road route and environmental baseline studies, expenditures in anticipation of the 2023 drill program, and general corporate purposes.The Offering is made to accredited investors within the meaning of National Instrument 45-106 and the completion of the Offering is subject to the receipt of acceptance by the TSX Venture Exchange (the \"Exchange\") and may close in more than one tranche. 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. Finders' fees may be payable in connection with the sale of the Shares 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 Un...