Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF)
(“
Alaska Energy Metals”, the
“
Company”, or “
AEMC”) today
announced that it plans to raise $3,000,000 gross proceeds through
a non-brokered private placement (the “
Offering”)
of special warrants (the “
Special Warrants”) to
purchase units (the “
Units”) at a price of $0.15
per Unit. The Special Warrants will convert to Units upon obtaining
a receipt from the TSX Venture Exchange for a Base Shelf Prospectus
supplement document to be filed by the Company. Each Unit will
consist of one common AEMC share (the
“Shares”)
and one share purchase warrant (the “
Warrants”) to
purchase another Alaska Energy Metals share at a price of $0.20 for
a three-year term.
The Company intends to use the net proceeds for drilling to test
geological, geophysical and geochemical targets at the Canwell
block of claims that form part of its Nikolai Nickel Project in
Alaska. Three holes totaling 1,200 meters are planned for drilling.
Proceeds will also be used for metallurgical testing of Eureka
deposit drill core, marketing, and general working capital. The
Canwell prospects are located near the Company’s Nikolai project
Eureka deposit which represents a large accumulation of nickel with
copper, cobalt, chrome, iron, platinum, palladium and gold.
Corporate Changes
The Company’s Annual General Meeting (“AGM”) of
shareholders, scheduled for June 10, 2024, will be adjourned
following the receipt of the annual consolidated financial
statements and appointment of the auditor in order to facilitate
changes to the Board of Directors. A notice of the date and time of
the adjourned AGM, together with an addendum to the Information
Circular and proxy, will be distributed to shareholders. Upon
approval by shareholders, the Board will be set at six directors.
The management nominees for election at the adjourned AGM will be
Mario Vetro, Tyron Breytenbach, and Ian Stalker, along with
incumbent directors Gregory Beischer, Mark Begich and, Corri Feige.
Stepping off the board will be Peter Chilibeck and Larry Cooper.
The Company thanks these two directors for more than a decade of
service each. Mr. Chilibeck and Mr. Cooper have been invited to
remain as advisors to the Company.
Mario Vetro: Mr. Vetro is an Investor / Financier and Partner at
Commodity Partners of Vancouver, BC. Mr. Vetro has extensive
experience in structuring and advising resource companies. He has
successfully raised hundreds of millions of dollars for resource
development projects and has participated in transactions ranging
from $100 million to $1.5 billion.
Tyron Breytenbach: Mr. Breytenbach presently serves on the
Company’s Advisory Board and has provided excellent advice. He is a
strong technical geologist with experience in magmatic nickel
deposits and extensive experience in international capital markets,
having worked with Cormark and Stifel Canada.
Ian Stalker: Mr. Stalker is Executive Chairman of Bradda Head
Lithium and has held numerous executive and board positions with
resource-oriented companies. He has been involved in raising more
than US$750 million from capital markets for a range of successful
mining projects.
Paul Matysek: Joining the Company’s advisory board, Mr. Matysek
is a well-known mineral resources developer and deal maker. He is
the Executive Chairman for a number of companies including Nano One
Materials Corp (TSE: NANO) and LithiumBank Resources
Corp. (TSX-V: LBNK).
Greg Beischer, the Company CEO, commented: “The current team and
board did a great job of identifying and defining the maiden
mineral resource estimate at the Nikolai Nickel Project. The
resource established to date is on track to be one of the largest
nickel deposits in the United States. As companies grow, it becomes
important to have depth in capital markets and operations. Seasoned
mining veterans having key attributes for this stage of corporate
development are needed. Tyron Breytenbach and Ian Stalker have
great track records. If elected, I am confident they will maximize
the Company’s chances of developing a world-class battery metals
project at Nikolai in Alaska.”
About Alaska Energy MetalsAlaska Energy Metals
Corporation is an Alaska-based corporation with offices in
Anchorage and Vancouver working to sustainably deliver the critical
materials needed for national security and a bright energy future,
while generating superior returns for shareholders.
AEMC is focused on delineating and developing the large-scale,
bulk tonnage, polymetallic Eureka deposit containing nickel,
copper, cobalt, chromium, iron, platinum, palladium, and gold.
Located in Interior Alaska near existing transportation and power
infrastructure, its flagship project, Nikolai, is well-situated to
become a significant domestic source of strategic energy-related
metals for North America. AEMC also holds a secondary project,
‘Angliers-Belleterre,’ in western Quebec. Today, material sourcing
demands excellence in environmental performance, carbon mitigation,
and the responsible management of human and financial capital. AEMC
works every day to earn and maintain the respect and confidence of
the public and believes that ESG performance is measured by action
and led from the top.
ON BEHALF OF THE BOARD“Gregory Beischer”Gregory
Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:Sarah
Mawji, Public RelationsVenture
StrategiesEmail: sarah@venturestrategies.com
Forward-Looking StatementsSome statements in
this news release may contain forward-looking information (within
the meaning of Canadian securities legislation), including, without
limitation, the statements as to the Company’s intention to raise
C$3 million, to drill exploratory drill holes at the Canwell
prospects, and to perform metallurgical studies. 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. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guaranteeing of future performance and actual results may
differ materially from those in the forward-looking statements.
Factors that could cause the actual results to differ materially
from those in forward-looking statements include regulatory
actions, market prices, and continued availability of capital and
financing, and general economic, market or business conditions.
Investors are cautioned that any such statements are not guarantees
of future performance and actual results or developments may differ
materially from those projected in the forward-looking statements.
Forward-looking statements are based on the beliefs, estimates and
opinions of the Company's management on the date the 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.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
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