Alaska Energy Metals Announces Automatic Conversion of

Alaska Energy Metals Corporation (AEMC) announced the filing of a prospectus supplement on April 30, 2024, to qualify the distribution of securities related to 2,500,000 special warrants issued on February 8, 2024. This supplement includes 2,500,000 common shares and 1,250,000 warrants for acquiring common shares at $0.80 each for 24 months. It also qualifies the distribution of 30,000 common shares from broker special warrants. The securities are not registered in the U.S. and cannot be offered there. AEMC aims to sustainably deliver critical materials for national security from its flagship Eureka deposit in Alaska.
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Not for distribution to U.S. newswire services or for release, publication, distribution, or dissemination directly, or indirectly, in whole or in part, in or into the United States

VANCOUVER, British Columbia, May 01, 2024 (GLOBE NEWSWIRE) — Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) has announced that it has filed a prospectus supplement dated April 30, 2024 (the “Prospectus Supplement”) to its short form base shelf prospectus dated April 19, 2024 (the “Shelf Prospectus”) to qualify the distribution of securities underlying 2,500,000 special warrants (the “Special Warrants”) issued by the Company on February 8, 2024 (the “Offering”).

The Prospectus Supplement qualifies the distribution of 2,500,000 common shares (each a “Common Share”) and 1,250,000 common share purchase warrants (each a “Warrant”) comprising the units of the Company issuable on the exercise or deemed exercise of the Special Warrants in the Provinces of British Columbia, Ontario and Nova Scotia. Each Warrant entitles the holder thereof to acquire one Common Share at an exercise price of $0.80 until 4:00 p.m. (Pacific Time) on the date that is 24 months following the date of issuance of the Warrants. The Prospectus Supplement also qualifies the distribution of 30,000 Common Shares upon the deemed exercise of 30,000 broker special warrants (each, a “Broker Special Warrant”) issued in connection with the Offering.

No action is required on the part of any holder of Special Warrants or Broker Special Warrants to convert their Special Warrants into underlying securities.

The qualification rights of holders of Special Warrants are further described in the Prospectus Supplement and the Shelf Prospectus, which can be found under the Company’s profile on SEDAR+ at www.sedarplus.ca.

Access to the Shelf Prospectus and the Prospectus Supplement, and any amendment to the documents, is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment. The Shelf Prospectus and the Prospectus Supplement are accessible on SEDAR+ at www.sedarplus.ca. An electronic or paper copy of the Prospectus Supplement, the corresponding Shelf Prospectus and any amendment to the documents may be obtained, without charge, from the Company at Suite 1000 – 355 Burrard Street, Vancouver, BC, V6C 2G8, by email at info@alaskaenergymetals.com and by providing the contact with an email address or address, as applicable.

The securities being referred to in this news release have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the U.S. or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements. This news release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

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

ABOUT ALASKA ENERGY METALS
Alaska Energy Metals Corporation (AEMC) is an Alaska-based corporation with offices in Anchorage and Vancouver working to sustainably deliver the critical materials needed for national security and a bright energy future, while generating superior returns for shareholders.

AEMC is focused on delineating and developing the large-scale, bulk tonnage, polymetallic Eureka deposit containing nickel, copper, cobalt, chromium, iron, platinum, palladium, and gold. Located in Interior Alaska near existing transportation and power infrastructure, its flagship project, Nikolai, is well-situated to become a significant domestic source of strategic energy-related metals for North America. AEMC also holds a secondary project, ‘Angliers-Belleterre,’ in western Quebec. Today, material sourcing demands excellence in environmental performance, carbon mitigation and the responsible management of human and financial capital. AEMC works every day to earn and maintain the respect and confidence of the public and believes that ESG performance is measured by action and led from the top.

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
Venture Strategies
Email: sarah@venturestrategies.com

Some statements in this news release may contain forward-looking information (within the meaning of Canadian securities legislation), including, without limitation, that the Company execute further drilling in 2024. 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.