VANCOUVER, British Columbia, Nov. 22, 2023 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or “the Company”) reports that further to its news release of November 6, 2023, that the TSX Venture Exchange has approved its engagement of Gold Standard Media, LLC (“Gold Standard”) to provide certain financial publishing and digital marketing services for a 90-day term in consideration for a cash payment of USD$150,000 and its engagement of Commodity Partners Inc. (“Commodity Partners”) to provide certain financial advisory services for an initial period of 12 months for a fee of CAD$9,000 per month.
Certain affiliates and parties related to Gold Standard currently own 1,000,000 shares of the Company and in connection with the Company’s previously announced proposed acquisition of 1413336 B.C. Ltd., certain affiliates of Gold Standard will acquire an additional 4,081,082 shares and 540,541 share purchase warrants in the Company (each a “Warrant”). Each Warrant shall be exercisable for a period of 2 years of the date of issuance to acquire one additional common share for $0.80. 1,081,082 shares shall be subject to a 60-day escrow period and the remaining 3,000,000 shares owned by Gold Standard affiliates shall be subject to 3-year escrow release schedule with 10% of the escrowed securities being releasable on closing of the 1413336 B.C. Ltd. acquisition, and 15% of the escrowed securities being releasable every six (6) months thereafter, on each of the 6, 12, 18, 24, 30 and 36 month anniversaries of closing.
Additionally, Commodity Partners who currently own 407,110 shares and 300,000 stock options of the Company, shall acquire an additional 290,000 shares and 145,000 Warrants in connection with the acquisition of 1413336 B.C Ltd. On closing of the acquisition of 1413336 B.C. Ltd., certain affiliates to Commodity Partners shall also acquire an additional 7,372,974 shares and 686,486 share purchase warrants in the Company. 1,662,973 shares shall be subject to a 60-day escrow period and the remaining 6,000,001 shares owned by Commodity Partners and its affiliates shall be subject to 3-year escrow release schedule with 10% of the escrowed securities being releasable on closing of the 1413336 B.C. Ltd. acquisition, and 15% of the escrowed securities being releasable every six (6) months thereafter, on each of the 6, 12, 18, 24, 30 and 36 month anniversaries of closing.
For more information about the Company’s proposed acquisition of 1413336 B.C. Ltd. and its engagement of Gold Standard, please refer to the Company’s news releases dated September 21st, and November 6th, 2023.
For additional information, visit: https://alaskaenergymetals.com/
About Alaska Energy Metals
Alaska Energy Metals Corporation is focused on delineating and developing a large polymetallic exploration target containing nickel, copper, cobalt, chrome, iron, platinum, palladium and gold. Located in Interior Alaska near existing transportation and power infrastructure, the project is well-situated to become a significant, domestic source of critical and strategic energy-related metals.
ON BEHALF OF THE BOARD
“Gregory Beischer”
Gregory Beischer, President & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT:
FOR FURTHER INFORMATION, PLEASE CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164
Sarah Mawji, Public Relations
Final Edit Media and Public Relations
Email: sarah@finaleditpr.com
Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, that (a) closing of the proposed transaction with 1413336 B.C. Ltd. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed 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 in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and 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 the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference 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 press release.
