Western Alaska Minerals - News Releases
Summary
Each Warrant will entitle the holder thereof to purchase one Share (a Warrant Share) at an exercise price of $0.90 per Warrant Share for 36 months from the date of issuance.The Units issued pursuant to the Non-Brokered Offering will not be qualified for distribution by the Prospectus Supplement and will be subject to a four month hold period.The net proceeds of the Offering will be used to fund the Companys 2024 exploration program, including step-out drilling at the LH and Warm Springs target zones that are new targets identified by the 2023-completed geophysical program, and for general corporate purposes.In consideration for the Agents services with respect to the Brokered Offering, the Company will (i) pay the Agents a cash fee of 6% of the aggregate gross proceeds of the Brokered Offering (including the Agents Option) and (ii) issue warrants (the Agent Warrants) to purchase that number of Shares of the Company equal to 6% of the aggregate number of Units sold pursuant to the Brokered Offering (including the Agents Option). Each closing is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.The securities being offered have not been and will not be registered under the U.S. Securities Act and may not be offered or sold in the United States, or to, or for the account or benefit of, U.S. persons or persons in the United States, absent registration or an applicable exemption from the registration requirements. Forward-looking information includes, but is not limited to, statements with respect to the activities, events or developments that the Company expects or anticipates will or may occur in the future. Although the assumptions made by the Company in providing forward-looking information or making forward-looking statements are considered reasonable by management at the time, there can be no assurance that such assumptions will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements.Important factors that could cause actual results to differ materially from the Companys plans or expectations include risks relating to the failure to complete the Offering in the timeframe and on the terms as anticipated by management, market conditions, metal prices, and risks relating to the Company not receiving all necessary approvals for the completion of the Offering, including the approval of the TSX Venture Exchange. There can be no assurance that forward-looking information and statements will prove to be accurate, as actual results and future events could differ materially from those anticipated, estimated or intended.