WESTERN ALASKA MINERALS ANNOUNCES C$5 MILLION NON-BROKERED PRIVATE PLACEMENT C$5 million private placement financing to fund 2022 exploration program
WESTERN ALASKA MINERALS ANNOUNCES
C$5 MILLION NON-BROKERED PRIVATE
PLACEMENT
C$5 million
private placement financing to fund 2022 exploration program
TUCSON, Ariz.
,
April 5, 2022
/CNW/ -
April 5, 2022
-
Western Alaska Minerals
(the "Company" or
"WAM") (TSXV: "WAM") is pleased to announce that it intends to complete a non-brokered private
placement to raise gross proceeds of up to
C$5,004,000
(the "
Offering
") through the sale of up to
4,170,000 common shares (each a "
Share
") at
C$1.20
per Share. The Offering is not subject to any
minimum aggregate subscription.
The gross proceeds of the Offering will be used to fund the Company's 2022 exploration program
which includes a +6,000 meter drill program anticipated to re-start in mid-May and continue through
early September. The program is expandable based on success thru mid-October. The core focus
will be on step out drilling of the Waterpump Creek CRD system to gauge the overall footprint of the
bonanza Ag-Zn-Pb mineralization encountered in 2021.
The Offering is made to accredited investors within the meaning of National Instrument 45-106 and
the completion of the Offering is subject to the receipt of acceptance by the TSX Venture Exchange
(the "
Exchange
"). All securities issued in connection with the Offering will be subject to a statutory
hold period expiring four months plus one day from the Closing. Finders' fees may be payable in
connection with the sale of the Shares in accordance with the policies of the Exchange.
This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the
securities in
the United States
. The securities have not been and will not be registered under the
United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities
laws and may not be offered or sold within
the United States
or to U.S. Persons unless registered
under the U.S. Securities Act and applicable state securities laws or an exemption from such
registration is available.
About WAM
WAM recently began trading as a Tier 1 company listed on the TSX-V and maintains corporate
offices in Alaska and Arizona. WAM has reassembled and fully controls all claims in the historic
Illinois Creek Mining district located in western Alaska near the Yukon River, covering 49,280 acres
(77 square miles). This significant district was originally discovered by Anaconda Minerals Co. in the
early 1980's. Since 2010, WAM and its private precursory company Western Alaska Copper & Gold
Inc. (WAC&G) has been engaged in exploring and advancing its interests in the Illinois Creek mining
district and now controls a diversified portfolio of five deposits that contain gold, silver, copper, lead,
and zinc.
On behalf of the Company
"Kit Marrs"
Kit Marrs
President & CEO
Forward Looking Information
Certain statements made, and information contained herein may constitute "forward looking
information" and "forward looking statements" within the meaning of applicable Canadian
and United States securities legislation. These statements and information are based on facts
currently available to the Company and there is no assurance that actual results will meet
management's expectations. Forward-looking statements and information may be identified by
such terms as "anticipates", "believes", "targets", "estimates", "plans", "expects", "may", "will",
"could" or "would". Forward-looking statements and information contained herein are based on
certain factors and assumptions regarding, among other things, the estimation of mineral
resources and reserves, the realization of resource and reserve estimates, metal prices, taxation,
the estimation, timing and amount of future exploration and development, capital and operating
costs, the availability of financing, the receipt of regulatory approvals, environmental risks, title
disputes and other matters. While the Company considers its assumptions to be reasonable as of
the date hereof, forward-looking statements and information are not guaranteeing of future
performance and readers should not place undue importance on such statements as actual events
and results may differ materially from those described herein. The Company does not undertake to
update any forward-looking statements or information except as may be required by applicable
securities laws.
SOURCE
Western Alaska Copper & Gold, an Alaska Corporation
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For further information:
Vanessa Bogaert, Director of Corporate Communications/IR at
[email protected] Or visit our website at: www.westernalaskaminerals.com
CO: Western Alaska Copper & Gold, an Alaska Corporation
CNW 08:00e 05-APR-22