Alaska Energy Metals to Undertake Special Warrant and Unit Offering FOR up to $5 Million
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: 24-25
ALASKA ENERGY METALS TO UNDERTAKE SPECIAL
WARRANT AND UNIT OFFERING FOR UP TO $5 MILLION
Not for distribution to United States newswire services or for release publication, distribution, or
dissemination directly, or indirectly, in whole or in part, in or into the United States.
Highlights:
• Alaska Energy Metals announces a new offering of $0.17 Special Warrants and Units
for up to CAD$5,000,000 in proceeds.
• Proceeds to be used primarily for continued drilling at the Canwell prospects and for
step-out drilling at the Eureka nickel deposit at the Nikolai project in Alaska.
VANCOUVER, BRITISH COLUMBIA, August 9, 2024 – Alaska Energy Metals Corporation
(TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or “Alaska Energy Metals” or the “Company”) is
pleased to announce that it is undertaking a non-brokered offering of up to $5 million in a
combination of special warrants (the “Special Warrants”) and/or units (the “Units”), to be
issued at the price of $0.17 per Special Warrant or Unit, as applicable, (the “Offering”). The
Company had previously intended to undertake the Offering at the price of $0.15 per Special
Warrant or Unit but was unable to obtain TSX Venture Exchange (the “TSXV”) approval to
complete an offering at that price.
Each Special Warrant will automatically convert into one Unit of the Company, as described
below. 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 $0.225 per Share for a period of three years following the
date of issue.
Each Special Warrant 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
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
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underlying the Special Warrants (the “Prospectus Supplement”), and (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 commissions, prior to the expiry of the statutory four-month hold period.
The Company will pay cash finder’s fees of 7% of the gross proceeds to certain finders. As
additional compensation the Company will issue that number of non-transferable broker
warrants (each a “Broker Warrant”) as is equal to 7% of the Special Warrants or Units issued.
Each Broker Warrant will be exercisable for one Share at the exercise price of $0.225 for a
period of three years.
The Company anticipates closing the Offering prior to August 31, 2024 (the “Closing Date”)
and completion of the Offering is subject to certain conditions including, but not limited to
the receipt of all necessary approvals, including the approval of the TSXV.
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 Closing Date in addition to any other restrictions under applicable law. Any Units
issued directly upon the closing of the Offering will be subject to a four-month hold period,
in accordance with applicable securities laws.
The net proceeds from the Offering will be used for Canwell prospect and Eureka deposit
drilling at the Nikolai Nickel Project in Alaska, metallurgical studies, non-flow through costs
associated with the Company’s Angliers-Belleterre nickel project in Quebec, working capital
and marketing purposes.
It is anticipated that insiders of the Company may participate in the Offering, and such
Special Warrants and/or Units issued to insiders may be subject to a four-month hold period
pursuant to applicable policies of the TSXV. The issuance of Special Warrants and/or Units to
insiders will be considered a "related party transaction" within the meaning of Multilateral
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
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Instrument 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-
101"). The Company is relying on exemptions from the formal valuation requirements of MI
61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI
61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market
value of the transaction, insofar as it involves interested parties, does not exceed 25% of the
Company's market capitalization.
For additional information, visit: https://alaskaenergymetals.com/
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]
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
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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 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 con ditions 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 guaranteeing 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.
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 or sold in the United States or to a
ALASKA ENERGY METALS CORP. | Suite 1000 – 355 Burrard St. | Vancouver, BC V6C 2G8
Tel: 604 638 3164 | Fax: 907 677 3599 | www.alaskaenergymetals.com
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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.