on Western Alaska Minerals Corp (isin : CA9575981050)
Western Alaska Minerals Announces Loan Transaction
Western Alaska Minerals Corp. (WAM) revealed plans for an unsecured loan with a total principal of up to C$1,726,920. The loan, bearing 10% annual interest, will mature in 15 months and is repayable after 12 months. The company intends to issue promissory notes to chosen lenders. Pending TSX Venture Exchange's approval, WAM will grant up to 2,698,312 bonus warrants allowing holders to purchase a voting share at C$0.64 within 36 months.
The loan proceeds aim to fund a US registration statement filing for equity financing, apply for trading on OTCQX/QB Capital Markets, and support corporate purposes. Loan-related securities will be under a four-month hold period per Canadian securities laws.
The loan completion is contingent upon receiving all approvals, including TSXV's acceptance of warrant issuances.
R. E.
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