VANCOUVER, April 15, 2016 /CNW/ - Wealth Minerals Ltd. (the "Company" or "Wealth") - (TSXV: WML; Frankfurt: EJZ), announces that, on April 14, 2016, it closed the settlement of $687,000.00 in debt related to certain accounts payable to Cardero Resource Corp. and a portion of the principal sum of certain outstanding loans originally made to the Company in 2011. The Company issued 2,000,000 common shares at a deemed price of $0.21 in settlement of such debt. The common shares issued have a hold period inCanada expiring on August 14, 2016.
The foregoing securities have not 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 shall not constitute an offer to sell or the solicitation of an offer to buy nor shall 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's strategy is to acquire undervalued projects with low exploration risk, attractive grades and potentially low capital requirements. Management insist that projects be located in stable and development-friendly geopolitical jurisdictions and that capital required for development is not excessive within the context of each commodity. The focus over the past few years has been on the acquisition of precious metals projects. The proposed acquisition of Li3 offers a new kind of opportunity where helping to meet emerging lithium demand is expected to create additional value for shareholders. The Company will also continue to move forward with its existing precious metals projects, such as Yanamina (Peru) and Valsequillo (Mexico).
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
President & CEO
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 press release, which has been prepared by management.
Cautionary Note Regarding Forward-Looking Statements