Alaska Energy Metals Corporation announced a non-brokered private placement of 2,500,000 special warrants at the price of CAD 0.40 per special warrant for gross proceeds of CAD 1,000,000 on February 8, 2024. Each Special Warrant will automatically convert into one unit of the company. Each Unit shall consist of one common share of the company and one-half of one common share purchase warrant.

Each Warrant shall entitle the holder thereof to acquire one share at a price of CAD 0.80 per share for a period of 24 months following the date of issue. Each Special Warrant will automatically convert, for no additional consideration, into units on the date that is the earlier of the date that is three business days following the date on which the company obtains a receipt from the applicable securities regulatory authorities for a (final) short form prospectus qualifying distribution of the Units and the date that is four months and one day after the closing of the offering. The company paid finder?s fee of CAD 4,000 to Research Capital Corporation and CAD 8,000 to Canaccord Genuity Corp., being 8% of the gross proceeds raised by each such finder.

As settlement for the finder?s fees, the company issued to Research Capital Corporation 10,000 broker special warrants and to Canaccord Genuity Corp. 20,000 Broker Special Warrants at the deemed issue price of CAD 0.40. Each Broker Special Warrant will automatically convert, for no additional consideration, into one share on the Qualification Date.

The securities issued under the Offering will be subject to a four month hold period from the date of closing of the Offering in addition to any other restrictions under applicable law.