Alaska Energy Metals Completes Acquisition of Angliers Nickel-Copper Project

Alaska Energy Metals Corporation is thrilled to announce the successful closure of its recent acquisition, acquiring 100% ownership. The strategic move was executed through a Share Exchange Agreement dated November 7, 2023, involving the Company, 141 BC, and the security holders of 141 BC.

This acquisition positions AEMC as the sole proprietor of 141 BC, whose valuable assets include the Angliers-Belleterre nickel-copper project (“Angliers project”) in western Quebec, along with approximately $2.8 million in cash.

As part of the agreement, 24,000,001 of the Consideration Shares are subject to a three-year escrow hold period. A structured release plan has been established, allowing 10% of the escrowed securities to be released at the time of the Final TSX-V Bulletin, followed by 15% every six months thereafter until the full release.

Additionally, 7,827,719 of the Consideration Shares are subject to a 60-day contractual hold period to ensure a stable transition for all parties involved.

The AEMC warrants, issued in connection with the acquisition, are exercisable at $0.80 per share and will remain valid for a period of two years from the date of issuance.

Importantly, no finder’s fees are payable for this transaction, indicating a smooth and cooperative agreement between the involved parties.

In a collaborative effort, AEMC and 141 BC have agreed to an area of mutual interest for a term of five years. This agreement covers three kilometers of the outer boundaries of the Angliers project, underlining a shared commitment to the development and exploration of this significant nickel-copper project.

This acquisition marks a significant milestone for Alaska Energy Metals Corporation, strengthening its position in the mining sector and unlocking new opportunities for growth and development. The Company is enthusiastic about the future prospects of the Angliers-Belleterre nickel-copper project and remains committed to delivering value to its shareholders through strategic initiatives and resource development.

Source: Finance Yahoo