Alaska Energy Metals Closes Flow-Through Financing

VANCOUVER, British Columbia, Dec. 28, 2023 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) ("AEMC" or the "Company") is pleased to announce it has closed a non-brokered private placement of flow-through common shares ("the financing"). The sole participant in the financing was Maple Leaf Funds through subscriptions by Maple Leaf Critical Minerals 2023-II Flow Through LP ? Quebec Class and Maple Leaf Critical Minerals 2023 Super Flow Through LP ? Quebec Class.

"We are really pleased to have institutional investor Maple Leaf Funds as a shareholder of our company. This financing, done at a significant premium to our current market price, will allow us to advance the Angliers nickel project in Western Quebec" stated Company President & CEO Gregory Beischer.

Two million shares were sold at a price of $0.50 per share to raise gross proceeds of $1,000,000. The proceeds will be used for exploration activities on the Angliers project in Quebec. In connection with the financing, finder's fees consisting of 179,487 AEMC shares have been issued to Red Cloud Securities Inc. and 140,000 finders warrants were issued to Red Cloud Mining Capital. The securities issued in the financing are subject to a hold period expiring on April 28, 2024.

The financing is subject to final acceptance by the TSX Venture Exchange.

For additional information, please visit: https://alaskaenergymetals.com/ 

About Alaska Energy Metals
Alaska Energy Metals Corporation is focused on delineating and developing a large polymetallic exploration target containing nickel, copper, cobalt, chrome, iron, platinum, palladium, and gold. The Nikolai Nickel Project, located in Interior Alaska near existing transportation and power infrastructure, the project is well-situated to become a significant, domestic source of critical and strategic energy-related metals for the American market. Additionally, the Company is advancing exploration on the Angliers Nickel Project in Western Quebec.

ON BEHALF OF THE BOARD
"Gregory Beischer"
Gregory Beischer, President & CEO

FOR FURTHER INFORMATION, PLEASE CONTACT:
Gregory A. Beischer, President & CEO
Toll-Free: 877-217-8978 | Local: 604-638-3164

Sarah Mawji, Public Relations
Final Edit Media and Public Relations 
Email: [email protected]

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, that the TSX Venture Exchange will give final acceptance for the financing and that we will use the proceeds from the financing for exploration on the Angliers property in Quebec. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties, and other factors which may cause the actual results, performance, or achievements to be materially different from any future results, performance, or achievements expressed or implied by the statements. Forward-looking statements speak only as of the date those statements are made. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guaranteeing of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include regulatory actions, market prices, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable law, the Company assumes no obligation to update or to publicly announce the results of any change to any forward-looking statement contained or incorporated by reference herein to reflect actual results, future events or developments, changes in assumptions, or changes in other factors affecting the forward-looking statements. If the Company updates any forward-looking statement(s), no inference should be drawn that it will make additional updates with respect to those or other forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this press release.