Western Alaska Minerals Announces Grant of Options

Rhea-AI Summary

Western Alaska Minerals announced the grant of 450,000 stock options on June 17, 2024. Of these, 200,000 options were granted to directors and officers. Each option allows the purchase of one subordinate voting share at $0.85, with a 5-year exercise period.

Positive

• Grant of 450,000 stock options incentivizes management and aligns their interests with shareholders.
• Exercise price set at $0.85 potentially offers upside if the stock price increases.
• 5-year exercise period provides long-term planning and stability.

Negative

• Potential dilution of shares due to the grant of 450,000 stock options.
• Short-term pressure on stock price if options are exercised and sold quickly.

NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

TUCSON, AZ / ACCESSWIRE / June 17, 2024 / Western Alaska Minerals Corp. (the "Company" or "WAM") (TSXV:WAM) is pleased to announce that it has granted a total of 450,000 stock options (the "Options"), 200,000 of which have been granted to certain directors and officers of the Company. The Options are each exercisable to purchase one subordinate voting share of the Company at an exercise price of $0.85 for a period of 5 years.

About WAM

Our mission is to advance a mineable and scalable CRD, ultimately reshaping the mineral landscape of western Alaska and establishing a new CRD district.

WAM's CRD system encompasses the (past producing) Illinois Creek gold-silver mine, the Waterpump Creek high-grade silver-lead-zinc deposit, open to the north, and the Honker gold prospect. Twenty-five kilometers northeast of the Illinois Creek CRD lies the Round Top copper and the TG North CRD prospects. All prospects were originally discovered by Anaconda Minerals Co. in the early 1980's. WAM's 100% owned claims cover 73,120 acres (114.25 square miles or 29,591 hectares), approximately 45 km east of an ocean barge-compatible section of the Yukon River. Since 2010, WAM, along with its precursor company, Western Alaska Copper & Gold, reassembled the Anaconda land package and has been engaged in exploring the district.

Headquartered in both Alaska and Arizona, WAM brings together a team of seasoned professionals with a shared vision of pioneering new frontiers in mineral exploration. Our strategic approach is underpinned by cutting-edge technology, innovative techniques, and a deep understanding of the geological intricacies of the region.

On behalf of the Company

"Kit Marrs"

Kit Marrs

President & CEO
kit@westernalaskaminerals.com
Phone: 1-520-200-1667

For further information, please contact:

Vanessa Bogaert, Director of Corporate Communications/IR
vanessa@westernalaskaminerals.com

Or visit our website at: www.westernalaskaminerals.com

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 release.

SOURCE: Western Alaska Minerals Corp.

View the original press release on accesswire.com

FAQ

What did Western Alaska Minerals announce on June 17, 2024?

Western Alaska Minerals announced the grant of 450,000 stock options, with 200,000 options to directors and officers.

What is the exercise price for the newly granted stock options by Western Alaska Minerals?

The exercise price is $0.85 per share.

What is the duration for exercising the stock options granted by Western Alaska Minerals?

The options can be exercised for a period of 5 years.

How many stock options were granted to directors and officers by Western Alaska Minerals?

200,000 stock options were granted to directors and officers.

What is the potential impact of Western Alaska Minerals' stock options grant on shareholders?

The grant could lead to potential share dilution and short-term pressure on the stock price if options are exercised and sold quickly.