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Source: Wealth Minerals Ltd.
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  • Wealth Minerals (WML) has announced a non-brokered private placement for gross proceeds of up to $5,750,000
  • The company will issue up to 12,234,044 common shares at a price of $0.47 per share
  • The net proceeds will be used to purchase 13,225,198 common shares of World Copper Ltd. from a wholly-owned subsidiary of Gold Springs Resource Corp.
  • Wealth Minerals is a mineral resource company with interests in Canada, Mexico and Chile
  • Wealth Minerals Ltd. (WML) is up 1.59 per cent, trading at C$0.64 per share at 4:30 pm ET

Wealth Minerals (WML) has announced a non-brokered private placement for gross proceeds of up to $5,750,000.

The company will issue up to 12,234,044 common shares at a price of $0.47 per share.

The net proceeds will be used to purchase 13,225,198 common shares of World Copper Ltd. from a wholly-owned subsidiary of Gold Springs Resource Corp. and for general working capital.

Assuming the completion of the WCU share purchase, the company intends to bundle each share offered in the placement with a contractual option to acquire a WCU share from the company. Each option will entitle the holder to purchase one WCU Share for $0.33.

Finder’s fees may be payable to certain subscribers participating in the offering. All shares will be subject to a four-month hold period. The closing of the offering is subject to the approval of the TSX Venture Exchange. 

Wealth Minerals is a mineral resource company with interests in Canada, Mexico and Chile. The company’s main focus is the acquisition and development of lithium projects in South America.

Wealth Minerals Ltd. (WML) is up 1.59 per cent, trading at C$0.64 per share at 4:30 pm ET.

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