Highlights:
- Alaska Energy Metals Corporation announces intention to conduct a non-brokered flow-through private placement
- The TSX Venture Exchange has issued a bulletin publishing its acceptance of the Angliers-Belleterre acquisition
VANCOUVER, British Columbia, Dec. 08, 2023 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased to announce that, subject to TSX Venture Exchange acceptance, it plans to conduct a non-brokered private placement of flow-through common shares at a price of $0.50 per share to raise gross proceeds of $1,000,000. The net proceeds will be used for exploration activities on the Angliers project. Finder’s fees will be payable in connection with this financing.
The TSXV has published its bulletin providing final approval for the acquisition of the owner of the 141 BC is Arm’s Length to the Company and its assets are comprised of the Angliers-Belleterre nickel-copper project (the “Angliers project”) in western Quebec and approximately $2.8 million in cash. As previously announced on November 24, 2023, the acquisition of 141 BC was effected through a Share Exchange Agreement between the Company, 141 BC, and the securityholders of 141 BC dated November 7, 2023. AEMC issued a total of 31,827,720 AEMC common shares at a deemed price of $0.315 and 4,105,958 AEMC warrants. The warrants are exercisable at $0.80 for a period of two years.
The Angliers property is subject to a 2.5% net smelter returns production royalty that can be reduced to 1.5% by paying the royalty holders $1.5 million.
AEMC also provides the following updates with respect to its previously announced engagement of the following investor relations service providers:
MMG
Further to the Company’s news release dated July 6, 2023, the Company clarifies with respect to its engagement of MMG Market Medium GmbH & Co. KG. (“MMG”) that the total sum of 150,000 euros paid to MMG represents the total marketing expenditure budget and that only 15% (approximately, 22,500 euros) is retained by MMG as their fee. For more information about the Company’s engagement with MMG please refer to the Company’s news release dated July 6, 2023.
Apollo
Further to the Company’s news release dated November 6, 2023, the Company clarifies with respect to its engagement of Apollo Shareholder Relations Ltd. (“Apollo”) that the engagement may be renewed on a month-to-month basis in consideration for a monthly fee of $12,100. For more information about the Company’s engagement with Apollo please refer to the Company’s news release dated November 6, 2023.
About Alaska Energy Metals
Alaska Energy Metals Corporation is focused on delineating and developing a large polymetallic exploration target containing nickel, copper, cobalt, chrome, iron, platinum, palladium and gold. It’s main projected, 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. The Company is now bringing forward the Angliers – Belleterre project in Quebec.
ON BEHALF OF THE BOARD
Gregory Beischer
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164
Sarah Mawji, Public Relations
Final Edit Media and Public Relations
Email:
sarah@finaleditpr.com
Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, that (a) AEMC will conduct a non-brokered flow-through private placement . 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 guarantees 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.
Neither the 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.
