Alaska Energy Metals Announces Issuance Of Shares For Debt Settlements

Executive Summary

• Alaska Energy Metals issued 6,921,087 common shares at $0.10 each to settle $599,408.70 of outstanding debt to creditors.
• Of the total shares issued, 1,118,670 were allocated to non‑arm’s length parties to settle $111,867 of debt.
• The settlement shares are subject to a four‑month hold period expiring on April 10 2026 and were approved by the Board without requiring minority shareholder approval.

Key Details

• Total Settlement Shares Issued: 6,921,087 common shares at $0.10 per share.
• Total Debt Settled: $599,408.70.
• Shares to Non‑Arm’s Length Parties: 1,118,670 shares settling $111,867 of debt.
• Hold Period: Four months; expires April 10 2026.
• Board Approval: Settlement approved by the Board; director with personal settlement abstained from related vote.
• Regulatory Exemption: Issuance relied on prospectus exemptions under Canadian securities law.
• Minority Shareholder Rights: No minority shareholder approval required per Multilateral Instrument 61‑101.
• Material Change Report: Not filed prior to closing; Company closed the settlement promptly after TSX Venture Exchange acceptance.

Notable Quotes

“The Settlement Shares issuance improves our financial position and allows us to continue focusing on the development of the Nikolai Project and other strategic initiatives.” – Gregory Beischer, President & CEO.