Western Alaska Minerals (WAM.V) recently upsized the brokered portion of its financing to C$7M (coming from C$5M) and eventually closed a C$6.1M sole tranche indicating strong interest from the main brokers (Roth, Canaccord Genuity and Agentis Capital). The terms of the financing remain unchanged: the units are priced at C$0.65 with each unit consisting of one common share of Western Alaska Minerals as well as a full warrant with an exercise price of C$0.90 per warrant. Each full warrant will remain will remain valid for a period of three years.
Concurrent with the brokered financing (the new shares of the brokered financing will be free trading), the company is also working on closing a C$1.5M non-brokered financing at the exact same terms. The shares will be subject to a 4 month hold period as the company – surprisingly – didn’t use the LIFE possibility to raise capital. The non-brokered tranche will be closed soon.
Disclosure: The author has a long position in Western Alaska and is participating in the non-brokered portion of the placement. Please read the disclaimer.
