Wealth Minerals Ltd. has arranged a non-brokered private placement offering of up to 2,631,579 units in the capital of the Company (the “Units”) at a subscription price of $0.38 per Unit for gross proceeds of up to $1,000,000, each Unit consists of one common share and one common share purchase warrant). The proceeds of the offering are expected to be used for exploration and general working capital. Closing of the offering is subject to the approval of the TSX Venture Exchange.
Wealth is a mineral resource company with interests in Canada and Chile. The Company’s focus is the acquisition and development of lithium projects in South America.
The Company opportunistically advances battery metal projects where it has a peer advantage in project selection and initial evaluation. Lithium market dynamics and a rapidly increasing metal price are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. In parallel with lithium market dynamics, Wealth believes other battery metals will benefit from similar industry trends.
