Vancouver, British Columbia–(Newsfile Corp. – June 30, 2022) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the “Company” or “Wealth” ) reports a correction to its June 29, 2022 press release specifically related to the description of the subscription, the Company issued whole warrants in accordance with its press releases dated June 7, 2022 and June 27, 2022.
On June 29, 2022, the Company issued 12,150,000 units for gross proceeds of $3,037,500. Each unit consisted of one common share of the Company (a “Share”) at $0.25 and one common share purchase warrant (a “Warrant”). Each warrant entitles its holder to acquire one additional share of the Company for a period of two years from the date of issue at a price of $0.40 per share.
Hendrik Van Alphen, CEO, said; “This is a truly strategic investment, with significant participation from advisory board member Jürgen M. Geissinger and a $2 million underwriting from Silvercorp Metals Inc., a leading multinational mining company. We thank these two underwriters for their participation in this placement and look forward to adding value to their investment in the company.”
No finder’s fee was paid in connection with the Placement.
All securities issued under the Placement are subject to a hold period of four months plus one day, during which time the securities may not be traded.
The net proceeds of the offering are for exploration and general corporate purposes.
This press release does not constitute an offer to sell any of the aforementioned securities in the United States. None of the foregoing securities have been and will be registered under the United States Securities Act of 1933, as amended (the “1933 Act”) or any applicable state securities law and may not be offered or sold in the United States or to, or on behalf of, or for the benefit of United States Persons (as defined in Regulation S of the 1933 Act) or persons in the United States not registered or exempt from these requirements of registration. This press release does not constitute an offer to sell or the solicitation of an offer to buy and there will be no sale of the aforementioned securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Wealth Minerals Ltd.
Wealth is a mineral resources company with interests in Canada and Chile. The main objective of the Company is the acquisition and development of lithium projects in South America.
The company opportunistically advances battery metal projects where it has an advantage in project selection and initial evaluation.
The dynamics of the lithium market and the rapid increase in the price of the metal are the result of deep structural problems, with the industry responding to anticipated future demand. Wealth is positioning itself as a major beneficiary of this future mismatch of supply and demand. Along with lithium market momentum, Wealth believes other battery metals will benefit from similar industry trends.
On behalf of the Board of Directors of
WEALTH MINERALS LTD.
“Hendrik Van Alphen”
Hendrik van Alphen
Chief executive officer
For more information, please contact:
Marla Ritchie, Michael Pound or Henk van Alphen
Phone: 604-331-0096 or 604-638-3886
For any investor relations enquiries, please contact:
Liviakis Financial Communications Inc.
For all public relations inquiries, please contact:
Office: 212-532-2208 | Mobile: 917-371-4053
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.
Caution Regarding Forward-Looking Statements
This press release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and United States securities laws, including the United States Private Securities Litigation Reform Act of 1995. All statements , other than statements of historical fact, included herein, including, without limitation, the anticipated results of the exploration program of exploration activities, the Company’s expectation that it will be able to enter into agreements to acquire interests in additional mineral properties, discovery and delineation of deposits/mineral resources/reserves, closing and amount of the Placement, as well as anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes these statements to be reasonable, it cannot guarantee that these expectations will prove to be correct. Forward-looking statements are generally identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “assume” and similar expressions, or are those which, by their nature, refer to future events. The Company cautions investors that the Company’s forward-looking statements are not guarantees of future results or performance, and that actual results may differ materially from those in the forward-looking statements due to a variety of factors, including operating difficulties and techniques in connection with mineral exploration and development activities, the actual results of exploration activities, the estimate or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, costs production, capital expenditures, costs and timing of new deposit development, additional capital requirements, future lithium prices, changes in general economic conditions, changes in financial markets and in the market demand and price of materials raw materials, lack of investor interest in the Placement, accidents, conflict ts and other risks of the mining industry, delays in obtaining governmental approvals, permits or fina the execution or completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title conflicts, the Company’s failure to obtain any necessary permits, consents, approvals or authorizations, including acceptance by the TSX-V, required for the placement, timing and possible outcome of any pending litigation, environmental issues and liabilities and risks related to joint venture activities, and other risks and uncertainties disclosed in the company’s most recent interim MD&A and filed with certain securities commissions in Canada. All of the Company’s Canadian public disclosure documents are accessible via www.sedar.com and readers are urged to review these documents, including technical reports filed with respect to the Company’s mineral properties.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any forward-looking statements contained in this press release or incorporated by reference herein, except as otherwise required by law.
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