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Western Alaska Minerals Corp. Announces Upsizing of Non-Brokered Private Placement from C$8.2 Million to C$12.0 Million
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 Upsizing of Non-Brokered Private Placement from C$8.2 Million to C$12.0 MillionNOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESTUCSON, AZ / ACCESSWIRE / August 8, 2022 / Western Alaska Minerals Corp. (the \"Company\" or \"WAM\") (TSXV:WAM) is pleased to announce that it intends to increase the size of its previously announced non-brokered private placement of common shares in the capital of the Company (the \"Shares\") from up to 2,000,000 Shares to up to 2,927,000 Shares (the \"Offering\") at a price of $4.10 per Share, for gross proceeds of up to $12,000,700. The Offering remains not subject to any minimum aggregate subscription.The gross proceeds of the Offering will be used 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 year'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, ...