Alaska Energy Metals Announces Automatic Conversion of Special Warrants

Prospectus Supplement and Base Shelf Prospectus Accessible on SEDAR+

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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 [e-mail] and by providing the contact with an email address or address, as applicable.