Wealth Minerals (WML-V) Sept 9, '16 announces that it has arranged a non-brokered private placement (the "Placement") of up to 3,100,000 shares (the "Shares") of the Company at a price of $0.70 per Share for gross proceeds of up to $2,170,000. All shares issued in the Placement will have a hold period in Canada of four months from the closing of the Placement. Cash finder's fees are payable on a portion of the financing.
The net proceeds from the Placement are intended to be used to fund option payments on the Trinity and Atacama Lithium Projects, the costs of an initial exploration campaign on the Company's properties anticipated to begin later this year, the costs for the review and assessment of additional potential lithium mineral property acquisitions in South America, and for general and administrative expenses and working capital.
Wealth continues to assess additional potential lithium mineral property acquisitions in South America on which the Company is actively negotiating.
Completion of the Placement is subject to the acceptance for filing thereof by the TSX Venture Exchange.
This press 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 U.S. 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 press 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 Caliente Norte, Pujsa and Quisquiro Salars in Chile (the Trinity Project), as well as to work with existing producers in the prolific Atacama Salar. The Company continues to aggressively pursue new acquisitions in the region. 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 web site ( 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
SOURCE Wealth Minerals Limited
Marla Ritchie,
Phone: 604-331-0096 Ext. 3886 or
604-638-3886,
E-mail: info@wealthminerals.com |
