Alaska Energy Metals Corporation (OTC:AKEMF) Stock In Focus After Latest News
On Thursday, there were a fair number of companies that had come into the news cycle for one reason or another, and one of those was Alaska Energy Metals Corporation (OTC:AKEMF). The company announced yesterday that it had been successful in closing the non-brokered private placement of its flow through common shares.
In the news release, it was noted that the sole participant in the financing round was Maple Leaf Funds. Gregory Beischer, the Chief Executive Officer and President of the company, spoke about the development as well. He noted that everyone at the company was highly pleased at the fact that Alaska Energy Metals Corporation had added institutional investors through Maple Leaf Funds. He also noted that the financing had taken place at a considerable premium when compared to the prevalent market price of the stock.
Beischer stated that the proceeds from the offering would be used by the company to take its Angliers nickel project forward. The project is situated in western Quebec. In the private placement, the company sold two million shares for the price of $0.50 each to generate gross proceeds to the tune of $1,000,000. The company also revealed that it had paid a finder’s fee to the tune of 179,487 Alaska Energy Metals shares to Red Cloud Securities Inc.
Red Cloud Mining Capital had also been issued 140000 finder’s warrants in connection with the offering. All the securities that had been issued in the financing would be subject to a hold period until April 28, 2024. On December 19, the company hit the newswires after it announced the final drill results related to the 2023 exploration program at Nikolai.
At the time, the company’s CEO stated that after receiving the final assay results, it would be possible for Alaska Energy Metals to work on the calculation of an update pertaining to its mineral resource inventory.
