Alaska Energy Metals Obtains Receipt for Short Form Base Shelf Prospectus

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, April 22, 2024 (GLOBE NEWSWIRE) -- Alaska Energy Metals Corporation (TSX-V: AEMC, OTCQB: AKEMF) (“AEMC” or the “Company”) today announced that it has obtained a receipt for its final short form base shelf prospectus (the “Shelf Prospectus”) filed with the securities commissions in each of the provinces of Canada (except Quebec) and Nunavut.

The filing of the Shelf Prospectus is intended to provide the Company with financing flexibility. Under the Shelf Prospectus, the Company may issue and sell up to, in the aggregate, C$50,000,000.00 of common shares, warrants, subscription receipts, units, debt securities, or any combination thereof, from time to time over a 25-month period that the Shelf Prospectus remains effective. The specific terms of any future offering of securities (if any) will be set forth in a prospectus supplement, which will be filed with the applicable Canadian securities regulatory authorities in connection with any such offering.

Any prospectus supplement filed will contain specific information concerning, among other matters, the securities to be issued and the use of proceeds from any such issuance. There is no certainty that any securities will be offered or sold under the Shelf Prospectus and any prospectus supplement within the 25-month period that it is effective. A copy of the Shelf Prospectus and copies of any prospectus supplements that may be filed in the future, can be found under the Company’s SEDAR+ profile at www.sedarplus.ca.

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.