Wealth Minerals upsizes private placement to $1.5 million

Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) increased its private placement from 12.5 million to 18.75 million units at $0.08 per unit, raising potential gross proceeds to $1.5 million from the previously announced $1 million.

The Vancouver-based mineral resource company cited strong investor demand for the increase announced January 26. The company had initially announced the private placement on January 12.

Chief Executive Officer Hendrik van Alphen attributed the positive response to recent company news and lithium market conditions. He noted that lithium carbonate equivalent now trades above $23,000 per tonne, representing an increase over the past six months.

The company also granted 8.7 million stock options to directors, officers, employees and consultants under its Amended 2004 Incentive Stock Option Plan. The options are exercisable until January 26, 2028, at $0.10 per share.

Wealth Minerals focuses on lithium project acquisition and development in South America, with interests in Chile. The company stated it is working to diversify its asset base to include precious metal projects.

The securities have not been registered under the U.S. Securities Act of 1933 and may not be offered or sold in the United States absent registration or an applicable exemption.

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