Star Metro - Alaska Energy Metals Announces At-the-Market Offering of up to $10 Million

VANCOUVER, BC / ACCESS Newswire / January 31, 2025 / Alaska Energy Metals Corporation (TSXV:AEMC)(OTCQB:AKEMF) ("AEMC" or the "Company") today announced that it has entered into an equity distribution agreement dated January 31, 2025 (the "Distribution Agreement") with Haywood Securities Inc. ("Haywood" or the "Agent"). Under the Distribution Agreement, the Company will be entitled, at its discretion and from time-to-time during the term of the Distribution Agreement, to sell, through Haywood, as sole and exclusive placement agent, such number of common shares of the Company (the "Common Shares") having an aggregate gross sales price of up to $10 million (the "ATM Offering"). Sales of the Common Shares will be made through "at-the-market distributions", as defined in National Instrument 44-102 - Shelf Distributions, directly on the TSX Venture Exchange (the "TSXV") or, if any, other recognized Canadian "marketplace" within the meaning of National Instrument 21-101 - Marketplace Operations where the Common Shares are listed, quoted or otherwise traded. The volume and timing of distributions under the ATM Offering, if any, will be determined in the Company's sole discretion. The Common Shares will be distributed at market prices or prices related to prevailing market prices from time to time. As a result, prices of the Common Shares sold under the ATM Offering will vary as between purchasers and during the period of distribution. The ATM Offering will be effective until the earlier of the issuance and sale of all of the Common Shares issuable pursuant to the ATM Offering and November 30, 2026, unless terminated prior to such date by the Company or the Agent in accordance with the terms of the Distribution Agreement.

Distributions of the Common Shares under the ATM Offering will be made and qualified by way of a prospectus supplement dated January 31, 2025 (the "Prospectus Supplement") to the Company's existing short form base shelf prospectus (the "Base Shelf Prospectus") dated November 1, 2024. The Prospectus Supplement has been filed with the securities commissions in all provinces and territories of Canada. The Prospectus Supplement (together with the related Base Shelf Prospectus) is available on the SEDAR+ website maintained by the Canadian Securities Administrators at www.sedarplus.ca. Alternatively, the Company or Haywood will send the Prospectus Supplement (including the Base Shelf Prospectus) upon request. Such requests may be made by sending an email to Haywood at [email protected].

The Company intends to use the net proceeds of the ATM Offering to complete metallurgical studies on the Eureka deposit, update the Mineral Resource Estimate for the Eureka deposit and to perform internal economic and options analysis of mine development at the Nikolai Project. Proceeds will also be used to advertise the Nikolai Project to potential joint venture partners or strategic investors and to assist potential partners with due diligence reviews.

The Common Shares that may be issued under the ATM Offering have been conditionally approved for listing on the TSXV.

This news release does not constitute an offer to sell or the solicitation of an offer to buy securities, nor will there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.

The securities being referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

For additional information, visit: https://alaskaenergymetals.com/

ABOUT ALASKA ENERGY METALS
Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with offices in Anchorage and Vancouver working to sustainably deliver the critical materials needed for national security and a bright energy future, while generating superior returns for shareholders.

AEMC is focused on delineating and developing the large-scale, bulk tonnage, polymetallic Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium, and gold. Located in Interior Alaska near existing transportation and power infrastructure, its flagship project, Nikolai, is well-situated to become a significant domestic source of strategic energy-related metals for North America. AEMC also holds a secondary project, 'Angliers-Belleterre,' in western Quebec. Today, material sourcing demands excellence in environmental performance, carbon mitigation and the responsible management of human and financial capital. AEMC works every day to earn and maintain the respect and confidence of the public and believes that ESG performance is measured by action and led from the top.

ON BEHALF OF THE BOARD
"Gregory Beischer"
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164

Sarah Mawji, Public Relations
Venture Strategies
Email: [email protected]

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, statements relating to the sales of Common Shares under the Distribution Agreement, the amount of proceeds and the use of proceeds from such sales. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.

SOURCE: Alaska Energy Metals Corporation

View the original press release on ACCESS Newswire

M.Johnson--SMC