Wealth Minerals Announces Private Placement

Company Overview - Wealth Minerals Ltd. is a mineral resource company focused on the acquisition and development of lithium projects in South America, with interests in Canada and Chile [4] - The company aims to advance battery metal projects where it has a competitive advantage in project selection and evaluation [5] Private Placement Offering - The company announced a non-brokered private placement offering of up to 25,000,000 units at a subscription price of $0.08 per unit, aiming for gross proceeds of up to$2,000,000 [1] - Each unit consists of one common share and one common share purchase warrant, with the warrant allowing the purchase of one common share at an exercise price of $0.15 for a period of 24 months [1] Use of Proceeds - Proceeds from the offering are expected to be utilized for exploration, claim fees, and general working capital [2] Market Dynamics - The lithium market is experiencing profound structural issues that are affecting supply and demand, leading to rapidly increasing metal prices [5] - The company is positioning itself to benefit from the anticipated future mismatch between supply and demand in the lithium market, as well as other battery metals [5]