The Prospector News

Wealth Closes $1.25 million Non-Brokered Private Placement

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Wealth Closes $1.25 million Non-Brokered Private Placement

 

 

 

 

 

Wealth Minerals Ltd. (TSX-V: WML) (OTCQX: WMLLF) (SSE: WMLCL) (Frankfurt: EJZ), announces they have closed the non-brokered private placement previously announced on August 8, 2019.  On August 22, 2019, a total of 3,620,715 units were issued under the Placement at a price of $0.35 per Unit for gross proceeds of $1,252,200.25.  Each Unit consists of one common share in the capital of the Company and one common share purchase warrant entitling the holder to acquire one additional Share at a price of $0.40 per Share for a period of two years, expiring on August 22, 2021.

 

All securities issued by the Company pursuant to the Placement will have a four month and one day hold period in Canada ending on December 23, 2019.  No finder’s fees were paid connection with the Placement.

 

The net proceeds from the Offering are intended to be used to fund exploration and development of Wealth’s Atacama Project as well as general corporate purposes.

 

None of the foregoing securities have been and will not be registered under the United States 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 news 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 and development of lithium projects in South America. To date, the Company has positioned itself to develop the Quisquiro Salar in Chile (the Trinity Project), as well as to work alongside existing producers in the prolific Atacama Salar, where the Company has a substantial licenses package. The Company has also positioned itself to play a role in asset consolidation in Chile with various lithium properties throughout the country.

 

Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.

 

Posted August 23, 2019

Share this news article

MORE or "UNCATEGORIZED"


Silver Storm Announces La Estrella Zone Drill Results

Silver Storm Mining Ltd. (TSX-V: SVRS) (OTCQB: SVRSF) (FSE: SVR),... READ MORE

May 7, 2024

West Red Lake Gold Intersects 21.33 g/t Au over 3.1m and 6.75 g/t Au over 9m at South Austin Zone – Madsen Mine

West Red Lake Gold Mines Ltd. (TSX-V: WRLG) (OTCQB: WRLGF) is ple... READ MORE

May 7, 2024

NioBay Confirms Phosphate in Historic Vior Drill Holes on Foothills Property

NioBay Metals Inc. (TSX-V: NBY) (OTCQB: NBYCF) is proud to announ... READ MORE

May 7, 2024

Radisson Intersects 9.70 g/t Gold Over 4.00 Metres and Adds Second Drill Rig at the O’Brien Gold Project in Quebec

Radisson Mining Resources Inc. (TSX-V: RDS) (OTCQB: RMRDF) is ple... READ MORE

May 7, 2024

Stallion Uranium Intersects Significant Conductive Structure

Stallion Uranium Corp. (TSX-V: STUD) (OTCQB: STLNF) (FSE: HM40) i... READ MORE

May 7, 2024

Copyright 2024 The Prospector News