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Wealth Closes $1,000,000 Financing

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Wealth Closes $1,000,000 Financing

 

 

 

 

 

Wealth Minerals Ltd. (TSX-V: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).

 

Posted April 24, 2016

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