pcNewsWire – Wealth Minerals Ltd. (TSX-V: WML; OTCQB: WMLLF; SSE: WMLCL; FSE: EJZ) has closed a portion of previously announced non-brokered private placement of 2,150,092 shares at a price of $1.50 per share for gross proceeds of $3,224,688.
Proceeds are intended to fund option payments on the company’s mineral property options, the costs for the review and assessment of additional potential lithium mineral property acquisitions in South America, exploration work on the company’s existing projects and for general and administrative expenses and working capital purposes.
Wealth Closes Tranche of Non-Brokered Private Placement
FOR IMMEDIATE RELEASE….Vancouver, British Columbia: Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZ), announces that today it has closed a portion of the non-brokered private placement previously announced on June 2, 2017 (the “Placement”). The closing consisted of the issuance of a total of 2,150,092 shares at a price of $1.50 per share for gross proceeds of $3,224,688. All shares issued by the Company will have a four-month hold period in Canada ending on October 30, 2017. In addition, finder’s fees will be paid in cash and/or shares. The Company has received a 30-day extension from the TSX Venture Exchange to close a final tranche, which is anticipated to close before July 12, 2017.
The net proceeds from the Placement are intended to fund option payments on the Company’s mineral property options, the costs for the review and assessment of additional potential lithium mineral property acquisitions in South America, exploration work on the Company’s existing projects and for general and administrative expenses and working capital purposes.
This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico, Peru and Chile. The Company’s main focus is the acquisition of lithium projects in South America. To date, the Company has positioned itself to develop the Aguas Calientes Norte, Pujsa and Quisquiro Salars in Chile (the Trinity Project), as well as to work alongside existing producers in the prolific Atacama Salar, in addition to the Laguna Verde lithium project acquisition. The Company continues to aggressively pursue new acquisitions in the region, the latest of which is the Five Salars Project. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.
For further details on the Company readers are referred to the Company’s website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
“Hendrik van Alphen”
Hendrik van Alphen
Chief Executive Officer
For further information, please contact: Marla Ritchie
Phone: 604-331-0096 Ext. 3886 or 604-638-3886
The TSX Venture Exchange has in no way passed on the merits of this news release. Neither 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 news release.