Alaska Energy Metals has successfully closed a financing round, raising C$500,020 ($364,405) for further exploration at its Angliers-Belleterre project in the Témiscamingue region of western Quebec, Canada.
The financing was achieved through the issuance of flow-through units priced at C$0.115 each.
The units sold in the offering comprised one common share and half of a common share purchase warrant.
Each whole warrant allows the holder to purchase an additional non-flow-through common share at C$0.16 within a 24-month period post-closing.
The TSX Venture Exchange has conditionally accepted the offering, which resulted in the issuance of 4,348,000 flow-through shares and 2,174,000 warrants.
A finder’s fee was paid to 3L Capital, which included C$35,001.40 in cash and 304,360 non-transferable share purchase warrants, each exercisable at C$0.115 for a two-year term.
Securities issued under this offering are subject to a four-month hold period.
The raised funds will be used for Canadian exploration expenses and will qualify as flow-through mining expenditures, as well as BC flow-through mining expenditures, as defined by the Income Tax Act (Canada) and the Income Tax Act (British Columbia), respectively.
The funds will be used for exploration work at the Angliers-Belleterre project with a focus on the Rapids/McBride and Vaseux prospects, with activities including geological mapping, prospecting, sampling, geophysical surveys and possibly exploration drilling.
The Rapids/McBride prospect has shown signs of Kambalda-style nickel-copper mineralisation, while the Vaseux prospect indicates mineralisation similar to the nearby Midrim nickel prospect.
In January 2024, Alaska Energy Metals completed a private placement of flow-through shares, accumulating C$1m for exploration at the Angliers project.
“Alaska Energy closes financing for exploration at Angliers-Belleterre project in Canada” was originally created and published by Mining Technology, a GlobalData owned brand.
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