Wealth Minerals arranges $1-million private placement

Executive Summary

• Wealth Minerals Ltd. announced a non‑brokered private placement of up to 20 million units at $0.05 per unit, targeting gross proceeds of up to $1 million.
• Each unit includes one common share and one warrant to purchase an additional share at $0.06 for 36 months.
• Proceeds are earmarked for exploration activities, claim fees, and general working capital.

Key Details

• Offering size: Up to 20 million units (each = 1 common share + 1 warrant).
• Subscription price: $0.05 per unit.
• Maximum gross proceeds: $1 million.
• Warrant terms: Exercise price $0.06 per share; exercisable for 36 months from issuance.
• Eligibility: Insiders may participate; qualified finders may receive fees.
• Holding period: Securities subject to a four‑month hold restriction before trading is permitted.
• Closing condition: Subject to approval by the TSX Venture Exchange.
• Use of proceeds: Allocation to exploration programs, payment of claim fees, and general working capital needs.

Notable Quotes

(No direct quotes provided in the release.)