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Alaska Energy Company Completes Exploration Financing for the Angliers-Belleterre Project in Canada
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Release time：2025-05-28
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This financing was achieved through the issuance of units (at a price of CAD 0.115 per unit).
Alaska Energy Metals Corp. successfully completed a financing round, raising C$500,020 (US$364,405), to further explore the Angliers-Belleterre project located in the Témiscamingue region of western Quebec, Canada. This financing was achieved through the issuance of flow-through units (priced at C$0.115 per unit). The units issued consisted of one common share and one-half of a common share purchase warrant. Each whole warrant allows the holder to purchase an additional non-flow-through common share at a price of C$0.16 within 24 months of closing.
The TSX Venture Exchange conditionally accepted this offering, resulting in the issuance of 4,348,000 flow-through shares and 2,174,000 warrants. A finder's fee was paid to 3L Capital, including C$35,001.40 in cash and 304,360 non-transferable share purchase warrants with an exercise price of C$0.115 and a two-year term. Securities issued under this offering are subject to a four-month hold period.
The funds raised will be used for exploration expenses in Canada, qualifying as flow-through mining expenditures and BC flow-through mining expenditures as defined under the Income Tax Act (Canada) and the Income Tax Act (British Columbia), respectively. These funds will be used for exploration work on the Angliers-Belleterre project, focusing on the Rapids/McBride and Vaseux exploration areas. Activities will include geological mapping, prospecting, sampling, geophysical surveys, and potential exploration drilling. The Rapids/McBride area has shown indications of Kambalda-style nickel-copper mineralization, while the Vaseux area shows mineralization similar to the nearby Midrim nickel deposit. In January 2024, Alaska Energy Metals Corp. completed a private placement of flow-through shares, raising C$1 million for exploration at the Angliers project.
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