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Alaska Energy Metals Announces Closing of $6.4 Million Brokered Private Placement

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Alaska Energy Metals Announces Closing of $6.4 Million Brokered Private Placement






Alaska Energy Metals Corporation (TSX-V: AEMC) (OTCQB: AKEMF) is pleased to announce that it has closed its previously announced brokered private placement of units for aggregate gross proceeds of $6,445,000. The Offering was led by Emerging Equities Inc. as lead agent, on behalf of a syndicate of agents, including Canaccord Genuity Corp., Echelon Wealth Partners, Red Cloud Securities Inc. and Cormark Securities Inc.


The Company issued a total of 16,112,500 Units at a price of $0.40 per Unit. Each Unit consisted of one common share in the capital of the Company and one-half of one Common Share purchase warrant. Each Warrant entitles the holder thereof to purchase an additional Common Share  at a price of $0.80 until July 27, 2025.


The net proceeds from the Offering will be allocated as follows: drilling at the Eureka Zone of the Nikolai project in Alaska ($3,500,000), metallurgical studies ($500,000), marketing ($1,000,000), property acquisitions ($500,000) and general corporate purposes ($465,339). The Company may allocate the net proceeds of the Offering in such priority and proportions as the board of directors or management of the Company determines is in the best interest of the Company.


The Company paid the Agents a cash commission of $403,100 and issued 1,007,751 compensation options. Each Compensation Option entitles the holder thereof to acquire one additional Common Shares at a price of $0.60 until July 27, 2025.


The securities issued pursuant to the Offering are subject to a four-month hold period from the date of issuance under applicable Canadian securities laws.


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. 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.


Posted July 28, 2023

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