VANCOUVER, Oct. 20, 2016 /CNW/ - Wealth Minerals Ltd. (the
"Company" or "Wealth") - (TSXV: WML; OTCQB: WMLLF; SSE: WMLCL;
Frankfurt: EJZ), announces that it has arranged a non-brokered
private placement (the "Placement") of up to 3,750,000 shares (the
"Shares") of the Company at a price of $1.10 per Share for gross proceeds of up to
$4,125,000. All shares issued
in the Placement will have a hold period in Canada of four months from the closing of the
Placement. Cash finder's fees are payable on a portion of the
Placement.
The net proceeds from the Placement are intended to be used to
fund the initial option payment on the Atacama Lithium Project, the
costs for the review and assessment of additional potential lithium
mineral property acquisitions in South
America, and for general and administrative expenses and
working capital.
Wealth continues to assess additional potential lithium mineral
property acquisitions in South
America on which the Company is actively negotiating.
Completion of the Placement is subject to the acceptance for
filing thereof by the TSX Venture Exchange.
This press 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
U.S. 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 press 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 Caliente Norte, Pujsa and
Quisquiro Salars in Chile (the
Trinity Project), as well as to work with existing producers in the
prolific Atacama Salar. 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 web site (www.wealthminerals.com) and its Canadian
regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
"Hendrik van Alphen"
Hendrik
van Alphen
Chief Executive Officer
Neither 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, which has been prepared by
management.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements
of historical fact, included herein including, without limitation,
statements regarding the anticipated content, commencement, timing
and cost of exploration programs; anticipated exploration program
results; the proposed closing of the Placement; the proposed use of
the proceeds from the Placement; the Company's expectation that it
will be able to enter into agreements to acquire interests in
additional lithium or other mineral projects; the discovery and
delineation of mineral deposits/resources/reserves; and the
anticipated business plans and timing of future activities of the
Company, are forward-looking statements. Although the Company
believes that such statements are reasonable, it can give no
assurance that such expectations will prove to be correct.
Forward-looking statements are typically identified by words such
as: believe, expect, anticipate, intend, estimate, postulate and
similar expressions, or are those, which, by their nature, refer to
future events. The Company cautions investors that any
forward-looking statements by the Company are not guarantees of
future results or performance, and that actual results may differ
materially from those in forward looking statements as a result of
various factors, including, but not limited to, the state of the
financial markets for the Company's equity securities; the state of
the commodity markets generally; variations in the nature, quality
and quantity of any mineral deposits that may be located;
variations in the market price of any mineral products the Company
may produce or plan to produce; the inability of the Company to
obtain any necessary permits, consents or authorizations required,
including TSXV acceptance, for its planned activities; the
inability of the Company to produce minerals from its properties
successfully or profitably, to continue its projected growth, to
raise the necessary capital or to be fully able to implement its
business strategies; and other risks and uncertainties disclosed in
the Company's latest interim Management Discussion and Analysis
filed with certain securities commissions in Canada. All of
the Company's Canadian public disclosure filings may be accessed
via www.sedar.com and readers are urged to review these materials,
including the technical reports filed with respect to the Company's
mineral properties.
This press release is not, and is not to be construed in any
way as, an offer to buy or sell securities in the United States.
SOURCE Wealth Minerals Limited
