Vancouver, British Columbia / TheNewswire / April 7, 2017 - Wealth Minerals Ltd. (the "Company" or "Wealth") - (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL; Frankfurt: EJZ), announces that today it has closed the non-brokered private placement of 3.6 million common shares previously announced on March 30, 2017 (the "Placement"), which Placement was oversubscribed due to investor demand. In connection with the Placement, the Company issued a total of 3,625,825 common shares at a price of $1.35 per share for gross proceeds of $4,894,863.74. All shares issued by the Company will have a four-month hold period in Canada ending on August 8, 2017. In addition, 46,903 common shares and a total of $102,466.45 in cash will be paid in finder's fees to Eurojet Capital Corp. and Canaccord Genuity Corp.
The net proceeds from the Placement are intended to fund option payments on the Company's mineral property options, the costs for the review and assessment of additional potential lithium mineral property acquisitions in South America, exploration work on the Company's existing projects and for general and administrative expenses and working capital purposes.
This news release does not constitute an offer of sale of any of the foregoing securities in the United States. None of the foregoing securities have been and will not be registered under the United States Securities Act of 1933, as amended (the "1933 Act") or any applicable state securities laws and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) or persons in the United States absent registration or an applicable exemption from such registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor will there be any sale of the foregoing securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico, Peru and Chile. The Company's main focus is the acquisition of lithium projects in South America. To date, the Company has positioned itself to develop the Aguas Calientes Norte, Pujsa and Quisquiro Salars in Chile (the Trinity Project), as well as to work alongside existing producers in the prolific Atacama Salar, in addition to its recently announced Laguna Verde lithium project acquisition. The Company continues to aggressively pursue new acquisitions in the region. 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. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.
For further details on the Company readers are referred to the Company's website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
