Alaska Energy Metals Announces Financings
May 12 2023 - 8:30AM
Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: MLRKF)
(“
Alaska Energy Metals” or the
“Company”) announces that it plans to raise funds
through two concurrent equity private placements. One financing
will use the listed issuer financing exemption under section 5A.2
of National Instrument 45-106 Prospectus Exemptions (the
“
LIFE PP Offering”) and the second financing will
use other prospectus exemptions (the “
Standard Equity
Offering”).
LIFE PP Offering
Under the LIFE PP Offering, minimum gross proceeds
of CAD$1,799,000 and maximum gross proceeds of CAD$2,142,000
are to be raised through a non-brokered private placement. Under
the LIFE PP Offering, a minimum of 6,425,000 common shares and
maximum of 7,650,000 common shares will be issued at a price of
CAD$0.28 per share. The proceeds of the LIFE PP Offering are
intended to be used primarily for exploration on the Canwell block
of claims on the Company’s Nikolai project where very high grade
nickel – copper – gold – platinum group element mineralization is
exposed at surface. There is an offering document related to the
LIFE PP Offering that can be accessed under the Company’s profile
at www.sedar.com and at www.alaskaenergymetals.com. Prospective
investors should read this offering document before making an
investment decision. The LIFE PP Offering is subject to receipt of
TSX Venture Exchange acceptance.
Finder’s fees of up to 8% cash (which may instead be payable in
common shares of the Company) and 8% finder’s warrants (the
“LIFE PP Offering Finder’s Warrants”) may be paid
in connection with the Life PP Offering. The LIFE PP Offering
Finder’s Warrants will entitle the holder to purchase one Alaska
Energy Metals common share at a price of $0.28 for a period of
twelve months and will be non-transferable. A CAD$30,000 due
diligence fee is also payable.
Standard Equity Offering
Under the Standard Equity Offering, the Company intends to raise
gross proceeds of CAD$450,000 through a non-brokered private
placement. If the full amount is raised, 1,607,143 common shares
would be issued. Common shares of the Company will be sold at
CAD$0.28 per share. The gross proceeds from the Standard Equity
Offering will be used primarily to do metallurgical studies on
drill samples (approximately CAD$300,000) collected from the Eureka
zone of nickel – copper – cobalt – chrome – iron – platinum –
palladium mineralization at the Company’s Nikolai project in
Alaska. Most of the remainder of the gross proceeds raised will be
used for road upgrade and extension permitting, wetlands studies,
resource calculation preparation, marketing and general corporate
purposes.
Finder’s fees of 6% cash and 6% finder’s warrants (the
“Standard Equity Offering Finder’s
Warrants”) may be paid in connection with the Standard
Equity Offering. The Standard Equity Offering Finder’s Warrants
will entitle the holder to purchase one Alaska Energy Metals common
share at a price of $0.28 for a period of twelve months and will be
non-transferable. Shares issued under the Standard Equity Offering
will be subject to a four-month hold period. The Standard Equity
Offering is subject to receipt of TSX Venture Exchange acceptance.
Gregory Beischer, the Company’s president and chief executive
officer, is the qualified person, as defined under National
Instrument 43-101 Standards of Disclosure for Mineral Projects,
responsible for, and having reviewed and approved, the technical
information contained in this news release.
About Alaska Energy MetalsAlaska Energy Metals
Corporation is focused on delineating and developing a large
polymetallic exploration target containing nickel, copper, cobalt,
chrome, iron, platinum, and palladium. Located in
development-friendly central Alaska near existing transportation
and power infrastructure, the project is well-situated to become a
significant, domestic source of critical and strategic
energy-related metals.
ON BEHALF OF THE BOARD“Gregory Beischer”Gregory
Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:Gregory
A. Beischer, President & CEOToll-Free: 877-217-8978 | Local:
604-638-3164
Some statements in this news release may contain forward-looking
information (within the meaning of Canadian securities
legislation), including, without limitation, the completion of the
LIFE PP Offering and Standard Equity Offering, the Company’s
successful realization of adequate financing to explore and develop
the Nikolai project and to achieve milestones successfully. The
potential quantity and grade of mineralized rock targeted by Alaska
Energy Metals is conceptual in nature. There has been insufficient
exploration drilling to estimate a mineral resource, and it is
uncertain if further exploration will result in the estimation of a
mineral resource. These statements address future events and
conditions and, as such, involve known and unknown risks,
uncertainties, and other factors which may cause the actual
results, performance, or achievements to be materially different
from any future results, performance, or achievements expressed or
implied by the statements. Forward-looking statements speak only as
of the date those statements are made. Except as required by
applicable law, the Company assumes no obligation to update or to
publicly announce the results of any change to any forward-looking
statement contained or incorporated by reference herein to reflect
actual results, future events or developments, changes in
assumptions, or changes in other factors affecting the
forward-looking statements. If the Company updates any
forward-looking statement(s), no inference should be drawn that it
will make additional updates with respect to those or other
forward-looking statements.
This news release does not constitute an offer for sale, or a
solicitation of an offer to buy, in the United States or to any
“U.S Person” (as such term is defined in Regulation S under the
U.S. Securities Act of 1933, as amended (the “1933
Act”)) of any equity or other securities of the Company.
The securities of the Company have not been, and will not be,
registered under the 1933 Act or under any state securities laws
and may not be offered or sold in the United States or to a U.S.
Person absent registration under the 1933 Act and applicable state
securities laws or an applicable exemption therefrom.
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