VANCOUVER, April 21, 2016 /CNW/ - Wealth Minerals Ltd.
(the "Company" or "Wealth") - (TSXV: WML; OTCBB: WMLLF; SSE: WMLCL;
Frankfurt: EJZ), is pleased to announce that they have received TSX
Venture Exchange acceptance to close the non-brokered private
placement announced on April 6, 2016,
and the placement closed on April 20,
2016.
On the closing of the placement, the Company issued a total of
4,000,000 common shares at a price of $0.25 per share. All shares issued by the
Company will have a four-month hold period in Canada ending on August
21, 2016. A total of $20,650.00 in cash was paid in finder's fees to
Haywood Securities Inc., Canaccord Capital Corporation and Leede
Jones Gable Inc.
The net proceeds from the Placement are intended to be used to
fund the costs related to the ongoing discussions with Li3 Energy,
Inc. ("Li3") pursuant to the letter of intent with Li3 announced on
February 1, 2016 (NR16-01), including
to carry out and complete the required due diligence on Li3 and the
Maricunga Lithium Project, for the review and assessment of
additional potential lithium mineral property acquisitions in
South America and the negotiation
of related formal documentation for any such acquisition(s), for
property payments and work programs on the Company's existing
mineral properties and for general and administrative expenses and
working capital.
In addition to the ongoing discussions with Li3 under the LOI,
the Company is currently also involved in the review and evaluation
of a number of prospective lithium mineral projects in South America for possible acquisition.
However, no agreements with respect to the acquisition of any such
mineral projects has yet been entered into, and there can be no
assurance that the Company will, in fact, be successful in entering
into any such agreements or acquiring interests in any additional
mineral properties.
This press release does not constitute an offer of sale of any
of the foregoing securities in the United States. None of the
foregoing securities have been and will not be registered under the
U.S. Securities Act of 1933, as amended (the "1933 Act") or
any applicable state securities laws and may not be offered or sold
in the United States or to, or for
the account or benefit of, U.S. persons (as defined in Regulation S
under the 1933 Act) or persons in the
United States absent registration or an applicable exemption
from such registration requirements. This press release does
not constitute an offer to sell or the solicitation of an offer to
buy nor will there be any sale of the foregoing securities in any
jurisdiction in which such offer, solicitation or sale would be
unlawful.
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in
Canada, Mexico, Peru
and Chile. The Company's main focus is the acquisition of
Lithium projects in South America,
including interests in the Maricunga Salar in Chile. The
Company also maintains a portfolio of precious and base metal
exploration-stage projects, including Yanamina (Peru) and Valsequillo (Mexico).
For further details on the Company readers are referred to the
Company's web site (www.wealthminerals.com) and its Canadian
regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
"Hendrik van Alphen"
Hendrik
van Alphen
President & CEO
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this press release, which has been prepared by
management.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements
of historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement, timing
and cost of exploration programs, anticipated exploration program
results, the discovery and delineation of mineral
deposits/resources/reserves, the proposed use of the
proceeds from the private placement; the Company's expectation that
it will be able to enter into agreements to acquire interests in
additional lithium or other mineral projects, the proposed
acquisition by the Company of Li3 and the shares of Li3, and
thereby an interest in the Maricunga Lithium Project; the proposed
execution and delivery of the required formal documentation in
connection with the acquisition of Li3; the completion of the
acquisition of Li3, either as presently proposed or at all, by the
Company; the planned completion of a test work program at the
Maricunga Lithium Project; the completion of the proposed financing
which is a condition precedent to a transaction with Li3, the
Company's expectation that the acquisition of Li3 will offers a new
kind of opportunity where helping to meet emerging lithium demand
will create additional value for shareholders of the Company; and
the anticipated business plans and timing of future activities of
the Company, are all forward-looking statements.
Although the Company believes that such statements are reasonable,
it can give no assurance that such expectations will prove to be
correct. Forward-looking statements are typically identified
by words such as: believe, expect, anticipate, intend, estimate,
postulate and similar expressions, or are those, which, by their
nature, refer to future events. The Company cautions
investors that any forward-looking statements by the Company are
not guarantees of future results or performance, and that actual
results may differ materially from those in forward looking
statements as a result of various factors, including, but not
limited to, the state of the financial markets for the
Company's equity securities; the state of the commodity markets
generally, and particularly with respect to precious metals and
lithium; variations in the nature, quality and quantity of
any mineral deposits that may be located; variations in the market
price of any mineral products the Company may produce or plan to
produce; the inability of the Company to obtain any necessary
permits, consents or authorizations required, including TSXV
acceptance, for its planned activities; the inability of the
Company to produce minerals from its properties successfully or
profitably, to continue its projected growth, to raise the
necessary capital or to be fully able to implement its business
strategies; and other risks and uncertainties disclosed in the
Company's latest Management Discussion and Analysis and filed with
certain securities commissions in Canada. All of the
Company's Canadian public disclosure filings may be accessed
via www.sedar.com and readers are urged to
review these materials, including the technical reports filed with
respect to the Company's mineral properties.
SOURCE Wealth Minerals Limited