Wealth Minerals Arranges $4.125 Million Non-Brokered Private Placement

VANCOUVER, Oct. 20, 2016 /CNW/ – Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV:WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZ), announces that it has arranged a non-brokered private placement (the “Placement”) of up to 3,750,000 shares (the “Shares”) of the Company at a price of $1.10 per Share for gross proceeds of up to $4,125,000.  All shares issued in the Placement will have a hold period in Canada of four months from the closing of the Placement. Cash finder’s fees are payable on a portion of the Placement.
The net proceeds from the Placement are intended to be used to fund the initial option payment on the Atacama Lithium Project, the costs for the review and assessment of additional potential lithium mineral property acquisitions in South America, and for general and administrative expenses and working capital.
Wealth continues to assess additional potential lithium mineral property acquisitions in South America on which the Company is actively negotiating.