Alaska Energy Metals Settles Debts with Shares Issuance

Alaska Energy Metals Corporation (TSX-V:AEMC)(OTCQB:AKEMF) has announced the settlement of $132,328.15 in debts through issuing 1,202,500 common shares. The shares are priced at $0.11 each, pending approval from the TSX Venture Exchange. This settlement includes 272,400 shares to Non-Arm's Length Parties, clearing $30,000 in debt.

CEO Gregory Beischer emphasized the company's focus on the Nikolai mineral project, essential for the U.S. supply chain and defense. The move aids in conserving cash resources by transferring some of the debt burden onto shareholders willing to take equity stakes.

The issued shares are subject to Canadian securities law exemptions and a four-month hold. The transaction, approved by the company's Board, required no formal valuation or minority shareholder approval. This aligns with the company's strategic objective to secure partnerships and possible U.S. Department of Defense funding.