Western Alaska Minerals Completes $6.11 Million Brokered Offering

Western Alaska Minerals, also known as WAM, has successfully concluded its brokered offering, raising a gross total of C$6,112,178.80. The offering, detailed in the prospectus supplement dated April 22, 2024, involved issuing 9,403,352 units at C$0.65 each.

Each unit in the offering included one subordinate voting share and a warrant, which allows the holder to purchase an additional share at C$0.90 within a 36-month period. This funding is earmarked primarily for the 2024 exploration program, which involves drilling in the newly identified LH and Warm Springs target zones.

As part of the transaction, a total of 311,138 units were purchased by related parties of the company, conducted under certain regulatory exemptions due to the transaction's size relative to the company’s market capitalization.

The offering was managed by Roth Canada, Inc., alongside Canaccord Genuity Corp. and Agentis Capital Markets Limited Partnership, who collectively earned a commission of C$366,730.73 and were also issued with 564,200 share purchase warrants.