Sulzer AG Is Onboard. (10 million sheets)
Wealth Minerals closes $2-million private placement
2024-05-10 16:16 ET - News Release
Mr. Henk van Alphen reports
WEALTH MINERALS CLOSES STRATEGIC FINANCING WITH SULZER AG
Wealth Minerals Ltd. has closed its non-brokered private placement as announced on May 6, 2024, issuing 10 million shares at a price of 20 cents per share for proceeds of up to $2-million. The financing was fully subscribed by Sulzer AG, Switzerland.
The securities issued in the offering are subject to a four-month hold period, during which time the securities may not be traded.
Commenting on the private placement, Henk van Alphen, chief executive officer, stated: "We are excited to welcome Sulzer AG as a new industrial shareholder. Sulzer AG is a global leader in fluid engineering and chemical processing applications."
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada and Chile. The company's focus is the acquisition and development of lithium projects in South America.
The company opportunistically advances battery metal projects where it has a peer advantage in project selection and initial evaluation. 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. In parallel with lithium market dynamics, Wealth believes other battery metals will benefit from similar industry trends.
We seek Safe Harbor.