Western Alaska Minerals Announces Expansion of Brokered Offering to $7 Million

Western Alaska Minerals Corp. (WAM) reported an increase in its brokered offering from $5 million to $7 million due to strong market demand. With Roth Canada, Inc. as the lead, alongside Canaccord Genuity Corp. and Agentis Capital Markets Limited Partnership, the company will sell up to 10,769,231 units at $0.65 each. The offering, linked with a prospectus supplement to a previous base shelf prospectus, aims to raise funds for WAM's 2024 exploration programs and general corporate ventures.

The units sold will include a subordinate voting share and a purchase warrant, which allows the holder to buy additional shares at a later date. A simultaneous non-brokered private placement seeks to raise an additional $1.5 million. The brokered offering is scheduled for closure on April 26, 2024, with the subsequent private placement wrapping up on May 3, 2024. Both offerings are subject to common closing conditions including regulatory approvals.