We’ve arrived at Nelson in our occasional series, in which we try to make sense of the poppycock and piffle used by mining companies in their NRs. Today we go with Wealth Minerals (WML.v):
THIS IS WHAT THEY WROTE:
Vancouver, British Columbia–(Newsfile Corp. – August 10, 2021) – Wealth Minerals Ltd. (TSXV: WML) (OTCQB: WMLLF) (SSE: WMLCL) (FSE: EJZN) (the “Company” or “Wealth”) announces it has agreed with Gold Springs Resource Corp. (“GRC”) (TSX: GRC) to purchase 13,225,198 common shares (each, a “WCU Share”) of World Copper Ltd. (“WCU”) (TSXV: WCU) held by a subsidiary of GRC, for an aggregate purchase price of $4,364,315. This transaction, at a price of $0.33 per WCU Share, is priced at an approximate 15.4% discount to the August 9, 2021 closing price of WCU at $0.39 per WCU Share.
This opportunistic transaction allows Wealth to capitalize on its familiarity with World Copper’s assets to acquire a large block of shares at a substantial discount. Wealth Minerals intends to hold the WCU Shares as an investment; and believes that they will provide significant long-term value for Wealth and its shareholders.
Of the WCU Shares able to be purchased by Wealth, 9,918,898 WCU Shares will remain subject to a TSX Venture Exchange Value Securities Escrow Agreement (the “Escrow Agreement”) and will be released from escrow in accordance with the terms thereof (for more details regarding the Escrow Agreement, see WCU’s news release of January 18, 2021 available on WCU’s SEDAR profile at www.sedar.com).
Wealth may, at its sole discretion, arrange for all or a portion of the WCU Shares to be purchased by Wealth and/or certain eligible purchasers (each such eligible purchaser, a “Substituted Purchaser”) under the Escrow Agreement. Wealth and/or the Substituted Purchasers will complete the transaction by no later than October 22, 2021.
About Wealth Minerals Ltd.
AND THIS IS WHAT IT MEANS:
Henk van Alphen is a serial mining sector scammer who should be in jail, the amount of cash he’s swindled from the world to date. And here we go again, this shameless, immoral sub-human moves into his third decade of parasitical sociopathic behaviour. OTOH maybe the last laugh is Henk’s, because even I find it hilarious how you idiots fall for his con jobs every single time. When Henk van Alphen dies, the world will be a better place.