Alaska Metals Corporation (OTC:AKEMF) Stock On The Radar After Recent News

Alaska Energy Metals Corporation (OTC:AKEMF) announced closing the non-brokered private placement of units for gross proceeds of $3,055,000. The firm issued a total of 7,637,500 Units at a price of $0.40 per Unit. Every unit comprises a single common share in the firm’s capital as well as an extra common share at a price of $0.80 until August 4, 2025.

The firm aims to harness net proceeds for general corporate purposes and the drilling program of the Nikolai project in Alaska. Alaska Energy Metals paid cash finders’ fees totaling $63,240 as well as issued 158,100 finder’s warrants for some qualified arm’s length finders.

Every finder’s warrant will give the holder the right to buy a common share at $0.60 per Finder’s Share until August 4, 2025. Securities issued pursuant to the offering are subject to a four-month hold period from the date of issuance under Canadian law.

Roland Butler, Director of the Company, and Gregory Beischer, President, Chief Executive Officer, and Director of the Company, bought 297,500 Units in an Offering for proceeds of $119,000. Participation by Mr. Butler and Mr. Beischer constitutes a “related party transaction” within Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions.

Related parties are exempt from approval, formal valuation, and an information circular as neither their fair market value nor the consideration paid by the insiders exceeded 25% of their market capitalization. 

Alaska Energy Metals Corporation announced the closing of the earlier announced brokered private placement of units. This would be for gross proceeds of $6,445,000. Led by Emerging Equities Inc. as lead agent, the offering is being done on behalf of a syndicate of agents, including Echelon Wealth Partners, Canaccord Genuity Corp., Red Cloud Securities Inc., and Cormark Securities Inc.

The firm issued a total of 16,112,500 Units at a price of $0.40 per Unit. Every unit comprises a single common share and one-half of a single Share purchase warrant. Every unit entitles the holder to buy an extra common share at a price of $0.80. The net proceeds from the offering would be allocated to different parts of the Eureka Zone.

While the Nikolai project in Alaska would be given $3,500,000, metallurgical studies would be given $500,000, and marketing activities would be given $1,000,000. Furthermore, property acquisitions will be given $500,000, and general corporate purposes will be given $465,339. The firm may allocate net proceeds in such proportions as the board determines are in the best interests of the Company. The Company paid Agents a cash commission of $403,100 as well as issued 1,007,751 compensation options.Alaska Energy Metals Corporation is developing significant polymetallic exploration targets containing copper, nickel,chrome, cobalt,platinum, iron,palladium, and gold. Located in central Alaska near power and transportation infrastructure, the project is significant and will be a source of strategic energy-related metals.

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