Deals fund due diligence on Li3 Energy and Maricunga Lithium Project
By Devika Patel
Knoxville, Tenn., April 6 – Wealth Minerals Ltd. said it completed a C$1.56 million non-brokered private placement of stock. The deal priced for C$1.6 million on March 24. The company now plans a second C$1 million non-brokered private placement of stock.
The company sold 7.78 million common shares at C$0.20 per share, a 25.93% discount to the March 23 closing share price of C$0.27.
In the second placement, the company will sell 4 million shares at C$0.25, a 10.71% discount to the April 5 closing share price of C$0.28.
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$2,556,000
|
| Shares: | 11.78 million
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Stock symbol: | TSX Venture: WML
|
| Market capitalization: | C$14.6 million
|
|
|
| First placement
|
| Amount: | C$1,556,000
|
| Shares: | 7.78 million
|
| Price: | C$0.20
|
| Warrants: | No
|
| Pricing date: | March 24
|
| Settlement date: | April 6
|
| Stock price: | C$0.27 at close March 23
|
|
|
| Second placement
|
| Amount: | C$1 million
|
| Shares: | 4 million
|
| Price: | C$0.25
|
| Warrants: | No
|
| Pricing date: | April 6
|
| Stock price: | C$0.28 at close April 5
|
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