Alaska Energy Metals Announces Closing of $1 Million Special Warrant Offering
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
NR: 24-05
ALASKA ENERGY METALS
ANNOUNCES CLOSING OF $1 MILLION SPECIAL
WARRANT OFFERING
VANCOUVER, BRITISH COLUMBIA, February 8, 2024 – Alaska Energy Metals
Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased
to announce the closing of a non-brokered offering of 2,500,000 special warrants
(the “Special Warrants”) issued at the price of $0.40 per Special Warrant for gross
proceeds of $1,000,000 (the “Offering”).
Each Special Warrant will automatically convert into one unit of the Company (each
a “Unit”), as described below. Each Unit shall consist of one common share of the
Company (a “Share”) and one-half of one common share purchase warrant (each
full warrant, a “Warrant”). Each Warrant shall entitle the holder thereof to acquire
one Share at a price of $0.80 per Share for a period of 24 months following the date
of issue.
Each Special Warrant will automatically convert, for no additional consideration,
into Units on the date (the “Qualification Date”) that is the earlier of: (i) the date
that is three business days following the date on which the Company (a) obtains a
receipt from the applicable securities regulatory authorities (the “Securities
Commissions”) for a (final) short form prospectus qualifying distribution of the
Units underlying the Special Warrants (the “Qualifying Prospectus”) or (b) files a
prospectus supplement to a short form base shelf prospectus with the Securities
Commissions qualifying distribution of the Units underlying the Special Warrants
(the “Prospectus Supplement”), and (ii) the date that is four months and one day
after the closing of the Offering.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Closing of $1 Million
Special Warrant Offering
Page 2
The Company will use its commercially reasonable efforts to obtain a receipt from
the Securities Commissions for the Qualifying Prospectus or file the Prospectus
Supplement within 60 days of the closing of the Offering (not including the date of
closing), provided, however, that there is no assurance that a Qualifying Prospectus
or a receipt therefor will be issued by the Securities Commissions, or a Prospectus
Supplement will be filed with the Securities Commissions, prior to the expiry of the
statutory four month hold period.
The Company paid finder’s fee of $4,000 to Research Capital Corporation and
$8,000 to Canaccord Genuity Corp., being 8% of the gross proceeds raised by each
such finder. As settlement for the finder’s fees, the Company issued to Research
Capital Corporation 10,000 broker special warrants (each a “Broker Special
Warrant”) and to Canaccord Genuity Corp. 20,000 Broker Special Warrants at the
deemed issue price of $0.40. Each Broker Special Warrant will automatically
convert, for no additional consideration, into one Share on the Qualification Date.
The net proceeds from the Offering will be used for working capital and marketing
purposes.
Prior to the filing of the Qualifying Prospectus or Prospectus Supplement and the
automatic conversion of the Special Warrants and the Broker Special Warrants, the
securities issued under the Offering will be subject to a four month hold period
from the date of closing of the Offering in addition to any other restrictions under
applicable law.
In its news release of December 28, 2023, the Company reported that 140,000
finder’s warrants were issued in connection with the closing of its flow-through
private placement. Each finder’s warrant is exercisable for one common share of
the Company at a price of $0.39 per share for a term of two years.
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Closing of $1 Million
Special Warrant Offering
Page 3
For additional information, visit: https://alaskaenergymetals.com/
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 central Alaska, the Nikolai Nickel project
is located near existing transportation and power infrastructure, the project is well-
situated to become a significant, domestic source of critical and strategic energy-
related metals for the American market. The Company is also exploring the
Belleterre Nickel 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: [email protected]
Some statements in this news release may contain forward-looking information (within
the meaning of Canadian securities legislation), including, without limitation, that the
Company will file a Qualifying Prospectus and obtain a receipt therefor, or file a
Prospectus Supplement, qualifying the Units for distribution, and the use of proceeds
from the Offering. 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
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Closing of $1 Million
Special Warrant Offering
Page 4
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.