Western Alaska Minerals Upsizes Its Private Placement to C$2.5 Million Due to High Demand

Western Alaska Minerals Corp., a TSXV-listed company, announced an increase in its non-brokered private placement from C$1.5 million to C$2.5 million in response to strong demand. This amendment follows initial announcements made earlier in the month. The company, abbreviated as WAM, plans to issue up to 3,846,154 units at $0.65 each.

Each unit includes one subordinate voting share and one share purchase warrant, valid for 36 months at an exercise price of $0.90. The proceeds are earmarked for the 2024 exploration programs at LH and Warm Springs target zones and for general corporate purposes. This funding will support newly identified targets from the 2023 geophysical survey.

The closing of this funding round is expected by May 8, 2024, pending standard regulatory approvals and the acceptance by the TSX Venture Exchange. The offering has restrictions preventing registration and sale in the U.S under its laws.