Alaska Energy Metals Closes $5 Million Special Warrant and Unit Offering; Nikolai Nickel Project Exploration Well Underway with More Than $8.68 Million Recently Raised
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: 24-28
ALASKA ENERGY METALS CLOSES $5 MILLION
SPECIAL WARRANT AND UNIT OFFERING; NIKOLAI
NICKEL PROJECT EXPLORATION WELL UNDERWAY
WITH MORE THAN $8.68 MILLION RECENTLY RAISED
Highlights:
• An additional $5,000,000 has been raised in a second round of Special
Warrant and Unit offerings, following on from first round offerings totaling
$3,679,564 closed in July.
• More than $8.68 million has been raised between the two recent offerings.
• Alaska Energy Metals is now adequately funded for the drilling program
planned and underway at the Nikolai nickel project in Alaska; drilling
commenced in July and has been completed on the Canwell prospects.
• Drilling is underway to test for extensions of the Eureka nickel deposit.
• Metallurgical studies to determine metal recovery rates have been initiated.
VANCOUVER, BRITISH COLUMBIA, SEPTEMBER 5, 2024 – Alaska Energy Metals
Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) is pleased to
announce that it has closed its non-brokered offering of special warrants to raise
$4,520,000, and its concurrent, non-brokered private placement of units for
proceeds of $480,000. Combined with the closing of offerings announced on July 8
and July 11 2024, the total gross proceeds of both financings is $8,679,564.
Gregory Beischer, President and CEO of Alaska Energy Metals, commented:
"Having attracted this level of financing speaks to the quality of the Nikolai Nickel
Project, confidence in our exploration team and plans, and also to our new company
directors, who are in place to assist in fully unlocking value for all of our shareholders."
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Equity Financing Closed
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Announcement of Marketing
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Special Warrant Offering
For this offering, 30,133,330 special warrants (the “Special Warrants”) were issued
at the price of $0.15 per Special Warrant for gross proceeds of $4,520,000 (the
“Offering”). Each Special Warrant will automatically convert into one unit of the
Company (each a “Unit”). Each Unit shall consist of one common share of the
Company (a “Share”) and one common share purchase warrant (a “Warrant”).
Each Warrant shall entitle the holder thereof to acquire one Share at a price of
$0.20 per Share for a period of three years following the date of issue. The Special
Warrants will automatically convert, for no additional consideration, into Units on
the date that is the earlier of: (i) the date that is three business days following the
date on which the Company files a prospectus supplement to a short form base
shelf prospectus with the applicable securities regulatory authorities qualifying
distribution of the Units underlying the Special Warrants (the “Prospectus
Supplement”), or (ii) the date that is four months and one day after the closing of
the Offering.
The Company will use its commercially reasonable efforts to 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 Prospectus
Supplement will be filed with the securities commission prior to the expiry of the
statutory four month hold period.
The Company paid aggregate cash finder’s fees of approximately $218,726 to
certain finders, being 7% of the gross proceeds raised by each such finder. As
additional compensation, the Company issued an aggregate of 1,458,176 non-
transferable broker warrants (each a “Broker Warrant”) to the respective finders.
Each Broker Warrant is exercisable for one Share at the exercise price of $0.20 for a
period of three 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
Equity Financing Closed
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Announcement of Marketing
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Prior to the filing of the Prospectus Supplement and the automatic conversion of
the 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.
Unit Offering
In this non-brokered private placement (“NBPP”), a total of 3,200,000 units (the
“NBPP Units”) were sold for gross proceeds of $480,000. Each NBPP Unit consists of
one Share and one Warrant. Each Warrant shall entitle the holder to acquire one
Share at a price of $0.20 per Share for a period of three years following the date of
issue. The Company paid aggregate cash finder’s fees of $33,600 to a certain finder,
being 7% of the gross proceeds raised. As additional compensation, the Company
issued an aggregate of 224,000 Broker Warrants to the finder. The securities issued
in connection with the NBPP will be subject to a four -month hold period, in
accordance with applicable securities laws.
The net proceeds from the Offering and the NBPP will be used for Canwell prospect
drilling and Eureka deposit drilling at the Nikolai Nickel Project in Alaska,
metallurgical studies on drill cores from the Eureka deposit, working capital, as well
as for marketing purposes.
For additional information, visit: https://alaskaenergymetals.com/
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Equity Financing Closed
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Announcement of Marketing
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About Alaska Energy Metals
Alaska Energy Metals Corporation is an Alaska-based corporation with offices in
Anchorage and Vancouver working to sustainably deliver the critical materials
needed for national security and a bright energy future, while generating superior
returns for shareholders.
AEMC is focused on delineating and developing the large-scale, bulk tonnage,
polymetallic Eureka deposit containing nickel, copper, cobalt, chromium, iron,
platinum, palladium, and gold. Located in Interior Alaska near existing transportation
and power infrastructure, its flagship project, Nikolai, is well-situated to become a
significant domestic source of strategic energy-related metals for North America.
AEMC also holds a secondary project, ‘Angliers-Belleterre,’ in western Quebec. Today,
material sourcing demands excellence in environmental performance , carbon
mitigation, and the responsible management of human and financial capital. AEMC
works every day to earn and maintain the respect and confidence of the public and
believes that ESG performance is measured by action and led from the top.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
Sarah Mawji, Public Relations
Venture Strategies
Email: [email protected]
Forward-Looking Statements
Some statements in this news release may contain forward-looking information (within
the meaning of Canadian securities legislation), including, without limitation, the closing
of the Offering, receipt of approval for the offering including the approval of the TSXV, the
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Equity Financing Closed
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Announcement of Marketing
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statements as to the filing of the Prospectus Supplement, the use of proceeds, to drill
exploratory drill holes at the Canwell prospects and Eureka deposit, and to perform
metallurgical studies. 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 guara nteeing 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 mate rially 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 o ther 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.
This news release does not constitute an offer for sale, or a solicitation of an offer to buy,
in the United States or to any “U.S Person” (as such term is defined in Regulation S under
the U.S. Securities Act of 1933, as amended (the “ 1933 Act”)) of any equity or other
securities of the Company. The securities of the Company have not been, and will not be,
registered under the 1933 Act or under any state securities laws and may not be offered
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
Equity Financing Closed
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Announcement of Marketing
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or sold in the United States or to a U.S. Person absent registration under the 1933 Act and
applicable state securities laws or an applicable exemption therefrom.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is
defined in policies of the TSX Venture Exchange) accepts responsibility for the
adequacy or accuracy of this release.