VANCOUVER, Sept. 9, 2016 /CNW/ – Wealth Minerals Ltd. (the “Company” or “Wealth”) – (TSXV: WML; OTCQB: WMLLF; Frankfurt: EJZ), announces that it has arranged a non-brokered private placement (the “Placement”) of up to 3,100,000 shares (the “Shares”) of the Company at a price of $0.70 per Share for gross proceeds of up to $2,170,000. 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 financing.
The net proceeds from the Placement are intended to be used to fund option payments on the Trinity and Atacama Lithium Projects, the costs of an initial exploration campaign on the Company’s properties anticipated to begin later this year, 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.