Western Alaska Minerals Corp. announced a non-brokered private placement to issue 10,000,000 units at an issue price of CAD 0.65 per share for the gross proceeds of CAD 6,500,000 on April 18, 2024. Each unit will be comprised of one subordinate voting share in the authorized share structure of the company plus one share purchase warrant at an exercise price of CAD 0.90 per warrant share for 36 months from the date of issuance.

The units issued pursuant to the non-brokered offering will be subject to a four month hold period. The transaction is expected to close on May 3, 2024. Each closing is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.

The brokered financing comprised of 7,692,308 units at an issue price of CAD 0.65 for the gross proceeds of CAD 5,000,000.2 and non brokered financing comprised of 2,307,692 units at an issue price of CAD 0.65 per unit for the gross proceeds of CAD 1,499,999.8; aggregate gross proceeds of CAD 6,500,000. In consideration for the Agents? services with respect to the Brokered Offering, the Company will pay the Agents a cash fee of 6% of the aggregate gross proceeds of the Brokered Offering and issue warrants to purchase that number of Shares of the Company equal to 6% of the aggregate number of Units sold pursuant to the Brokered Offering.

Each Agent Warrant will be exercisable to acquire one Share at the Offering Price for a period of 36 months from the date of issuance. Closing of the Brokered Offering is expected to occur on or about April 26, 2024, and closing of the Non-Brokered Offering is expected to occur on or about May 3, 2024. Each closing is subject to certain customary conditions, including, but not limited to, the receipt of all necessary regulatory approvals and acceptance of the TSX Venture Exchange.