Deal funds due diligence on Li3 Energy and Maricunga Lithium Project
By Devika Patel
Knoxville, Tenn., March 24 – Wealth Minerals Ltd. said it could raise C$1.6 million in a non-brokered private placement of stock.
The company will sell 8 million common shares at C$0.20 per share, a 25.93% discount to the March 23 closing share price of C$0.27.
Proceeds will be used to complete the required due diligence on Li3 Energy, Inc. and the Maricunga Lithium Project and to review and assess additional lithium property acquisitions.
Wealth Minerals is an early stage mineral exploration company based in Vancouver, B.C.
| Issuer: | Wealth Minerals Ltd.
|
| Issue: | Common stock
|
| Amount: | C$1.6 million
|
| Shares: | 8 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | March 24
|
| Stock symbol: | TSX Venture: WML
|
| Stock price: | C$0.27 at close March 23
|
| Market capitalization: | C$9.17 million
|
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