Wealth Minerals Closes First Tranche of Private Placement

Executive Summary

• Wealth Minerals Ltd. closed the first tranche of its private placement, issuing 12,750,000 units at $0.08 per unit for gross proceeds of $1.020 million.
• Each unit consists of one common share and one‑half of a common share purchase warrant (exercise price $0.12, expiring 30 Jan 2028).
• Finder’s fees were paid to three broker‑dealers in cash and additional warrants; the company expects to close the final tranche within the next week.

Key Details

• Units Issued: 12,750,000 units @ $0.08 per unit.
• Gross Proceeds: $1,020,000.
• Unit Composition: 1 common share + ½ common share purchase warrant (exercise price $0.12, expiry 30 Jan 2028).
• Holding Period: Four months plus one day for all securities issued.
• Finder’s Fees Paid:
• Red Cloud Securities Inc.: $1,400 cash + 17,500 warrants.
• EDE Asset Management Inc.: $32,480 cash + 406,000 warrants.
• IBK Capital Corp.: $3,360 cash + 42,000 warrants.
• Final Tranche: Fully subscribed; anticipated closing “within the next week or so.”
• Regulatory Notice: Securities not registered under U.S. securities laws; not offered to U.S. persons absent exemption.

Notable Quotes

(No direct quotes included in the release.)