Wealth Closes $4 Million Non-Brokered Private Placement

FOR IMMEDIATE RELEASE….Vancouver, British Columbia: Wealth Minerals (TSXV:WML; OTCQB:WMLLF; SSE:WMLCL; Frankfurt:EJZ), announces that it has closed a non-brokered private placement (the “Placement”) of 3,704,845 shares (the “Shares”) of the Company at a price of $1.10 per Share for gross proceeds of $4,075,329.50. The financing closed in two tranches. Under the first tranche, which closed on October 26, 2016, 1,185,000 Shares were issued at $1.10 per Share for gross proceeds of $1,303,500 and in respect of which the Company paid cash finder’s fees of $53,900.00 to Haywood Securities Inc. The second and final tranche closed on November 2, 2016 and resulted in the issuance of 2,519,845 Shares at $1.10 per Share for gross proceeds of $2,771,829.50. The Company paid paid cash finder’s fees totaling $160,545.00 to Haywood Securities Inc., Canaccord Genuity Corp. and RBC Dominion Securities Inc. in connection with the second tranche.
The net proceeds from the Placement are intended to be used to fund the initial option payment on the Atacama Lithium Project (details of which are set out in a press release issued by the Company on August 4, 2016), 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.
Read the full press release.
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