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Alaska Energy Metals Announces Automatic Conversion of Special Warrants

Alaska Energy Metals Corporation

Alaska Energy Metals Corporation

Prospectus supplement and base prospectus available on SEDAR+

Not intended for distribution to U.S. news services or for publication, publication, distribution or dissemination, in whole or in part, directly or indirectly, in or into the United States

VANCOUVER, British Columbia, May 1, 2024 (GLOBE NEWSWIRE) — Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) announced that it has filed a prospectus supplement dated dated April 30, 2024 (the “Prospectus Supplement”) to its short base prospectus dated April 19, 2024 (the “Shelf Prospectus”) to qualify for the distribution of securities comprising 2,500,000 of the special warrants issued (the “Special Warrants”) the Company on February 8, 2024 (the “Offer”).

The Prospectus Supplement qualifies the distribution of 2,500,000 common shares (each a “Common Share”) and 1,250,000 common share purchase warrants (each a “Warrant”) consisting of the units of the Company issued upon exercise or deemed exercise of the Special Warrants in the British Provinces Columbia, Ontario and Nova Scotia. Each warrant entitles the holder thereof to purchase one common share at an exercise price of $0.80 until 4:00 p.m. (Pacific Time) on the day that is 24 months after the issuance date of the warrants. The Prospectus Supplement also qualifies the distribution of 30,000 shares of common stock upon the deemed exercise of 30,000 broker special warrants (each a “Broker Special Warrant”) issued in connection with the Offering.

No action is required by holders of Special Warrants or Broker Special Warrants to convert their Special Warrants into any underlying securities.

The qualification rights of holders of special warrants are further described in the prospectus supplement and shelf prospectus, which can be found in the Company's profile on SEDAR+ at www.sedarplus.ca.

Access to the base prospectus and the prospectus supplement and any amendments to the documents will be in accordance with securities laws relating to procedures for granting access to a base prospectus supplement, a base prospectus and any amendments. The base prospectus and prospectus supplement are available on SEDAR+ at www.sedarplus.ca. An electronic or hard copy of the prospectus supplement, the relevant base prospectus and any amendments to the documents may be obtained free of charge from the Company at Suite 1000 – 355 Burrard Street, Vancouver, BC, V6C 2G8, by email to info@. alaskaenergymetals.com and by providing an email or contact address.

The securities referred to in this press release have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold or for account or benefit in the United States by U.S. citizens without registration or without appropriate exemption from registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For more information visit: https://alaskaenergymetals.com/

ABOUT ALASKA ENERGY METALS
Alaska Energy Metals Corporation (AEMC) is an Alaska-based company with offices in Anchorage and Vancouver that works to sustainably supply the critical materials needed for national security and a bright energy future while generating superior returns for shareholders.

AEMC is focused on defining and developing the large-scale, large-tonnage, polymetallic Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium and gold. The flagship Nikolai project is located in inland Alaska close to existing transportation and energy infrastructure and is well positioned to become a significant domestic source of strategic energy metals for North America. AEMC also operates a secondary project, Angliers-Belleterre, in western Quebec. Today, material sourcing requires excellent environmental performance, carbon reduction and responsible use of human and financial capital. AEMC works every day to earn and maintain the respect and trust of the public and believes that ESG performance is measured by action and led from the top.

ON BEHALF OF THE BOARD OF DIRECTORS
“Gregory Beischer”
Gregory Beischer, President and CEO

FOR MORE INFORMATION PLEASE CONTACT:
Gregory A. Beischer, President and CEO
Toll Free: 877-217-8978 | Local: 604-638-3164

Sarah Mawji, Public Relations
Venture strategies
Email: [email protected]

Certain statements in this press release may contain forward-looking information (within the meaning of Canadian securities laws), including, without limitation, the statement that the Company will drill additional drilling in 2024. These statements relate to future events and conditions and therefore involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements or successes differ. Forward-looking statements speak only as of the date such statements are made. Although the Company believes that the expectations reflected in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those reflected in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include, but are not limited to, governmental actions, market prices and the continued availability of capital and financing, as well as general economic, market or business conditions. Investors are cautioned that such statements are not guarantees of future performance and that 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 management as of the date such statements are made. Except as required by law, the Company undertakes no obligation to update or publicly announce the results of any changes to any forward-looking statements contained herein or incorporated by reference to reflect actual results, future events or developments, changes in assumptions, etc. or changes in other factors that affect the forward-looking statements. If the Company updates one or more forward-looking statements, no conclusion should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Neither the 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 release.

Anna Harden

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