Wealth Announces Engagement of Investor Relations Consultant and Comments on Promotional Activities
VANCOUVER, British Columbia, May 17, 2018 (GLOBE NEWSWIRE) -- Wealth Minerals Ltd. (the “Company” or “Wealth”) - (TSXV:WML) (OTCQX:WMLLF) (SSE:WMLCL) (Frankfurt:EJZN) announces that it has entered into an agreement dated May 15, 2018 (the “FMT Marketing Agreement”), whereby it has engaged Future Money Trends, LLC (“FMT”) for a period of one year at the aggregate cost of $250,000 to provide financial publishing and digital marketing services to the Company. Pursuant to the FMT Marketing Agreement, FMT will raise public awareness of the Company (including its social media presence) and will promote the Company’s business.
The Company also announces that has become aware that FMT engaged in certain promotional activities prior to the date of the FMT Marketing Agreement, namely a letter to readers from FMT entitled “Don’t Miss the Green Energy BOOM!” and a letter to the readers from CrushTheStreet.com entitled “Doubling Down on a Major Lithium Sale” that were published on or about May 13, 2018 (collectively, the “FMT Promotional Materials”).
The Company understands that the FMT Promotional Materials were published in advance of the Company entering into the FMT Marketing Agreement. The Company understands that the FMT Promotional Materials were aimed at increasing investor awareness of the Company. The Company did not have editorial control over the FMT Promotional Materials and believes that any statements contained therein relating to the potential future value of the Company’s securities or the performance thereof may be misleading. The Company cautions readers that forward-looking statements and information are not guarantees of future results or performance, and that actual results may differ materially from those contained in forward-looking statements as a result of risks and other various factors, particulars of which are set out below. Going forward, the Company expects to be able to exercise editorial control over any promotional and/or investor communication materials prepared by FMT, including to the extent that such materials speak to the Company’s securities and the potential future value or performance thereof.
As a result of the FMT Marketing Agreement, the Company has now entered into agreements for the provision of investor, public relations and marketing services with Zacks Investment Research, Inc., Fundamental Research Corp., Native Ads, Inc., Galavant Holdings Ltd., Liviakis Financial Communications, Inc. and MJP Justus Inc.
After the inquiry by management and except as otherwise disclosed herein, the Company is not aware of any of its directors, officers, controlling shareholders (defined as shareholders owning 10% or more of the Company’s securities), or any third party service providers providing promotional services to the Company who have (i) sold or purchased the Company’s securities within the past 90 days or (ii) directly or indirectly, been involved in any way (including payment of a third-party) with the creation or distribution of promotional materials related to the Company and its securities, including the FMT Promotional Materials. The Company is aware that (i) certain directors and officers of the Company purchased 662,500 shares in connection with the exercise of stock options in March and April 2018 (of which 109,000 were subsequently sold); (ii) the Chief Executive Officer of the Company purchased 20,000 shares in the past 90 days; and (iii) third party service providers (not related to FMT) sold 162,000 shares in the past 90 days.
In accordance with TSX Venture Exchange policies, the Company has routinely in the past issued, and expects to continue issuing, shares from treasury at a discount to market, but has not issued convertible instruments allowing conversion to equity securities at prices constituting a discount to the current market rate at the time of the issuance.
About Wealth Minerals Ltd.
Wealth is a mineral resource company with interests in Canada, Mexico, Peru and Chile. The Company’s main focus is the acquisition of lithium projects in South America. To date, the Company has positioned itself to develop the Aguas Calientes Norte and Quisquiro Salars in Chile (the Trinity Project), as well as to work alongside existing producers in the prolific Atacama Salar. In addition to the Laguna Verde lithium project acquisition, the Company has also positioned itself to play a role in asset consolidation in Chile with the Five Salars project.
The Company is transitioning from an asset acquisition phase to developing its current high potential portfolio. Lithium market dynamics and rapidly increasing metal prices are the result of profound structural issues with the industry meeting anticipated future demand. Wealth is positioning itself to be a major beneficiary of this future mismatch of supply and demand. The Company also maintains and continues to evaluate a portfolio of precious and base metal exploration-stage projects.
For further details on the Company readers are referred to the Company’s website (www.wealthminerals.com) and its Canadian regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
“Hendrik van Alphen”
Hendrik van Alphen
Chief Executive Officer
|For further information, please contact:||Marla Ritchie|
|Phone: 604-331-0096 Ext. 3886 or 604-638-3886|
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Cautionary Note Regarding Forward-Looking Statements
This news release contains forward-looking statements and forward-looking information (collectively, “forward-looking statements”) within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the Company’s expectation that it will be able to exercise editorial control over any promotional and/or investor communication materials prepared by FMT, anticipated exploration program results from exploration activities, the Company’s expectation that it will be able to obtain the necessary permits to exploit, develop, produce and export lithium, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: “believe”, “expect”, “anticipate”, “intend”, “estimate”, “postulate” and similar expressions, or are those, which, by their nature, refer to future events. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that market fundamentals will result in sustained lithium demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future development of the Company’s Chilean lithium projects in a timely manner, the availability of financing on suitable terms for the development, construction and continued operation of the Company projects, and the Company’s ability to comply with environmental, health and safety laws.
Forward-looking statements by the Company are not guarantees of future results or performance, and actual results may differ materially from those in forward-looking statements as a result of risks and other various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of lithium, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including acceptance by the TSX Venture Exchange of the FMT Marketing Agreement, the timing and possible outcome of any pending litigation, environmental issues and liabilities, risks related to joint venture operations, and other risks and uncertainties disclosed in the Company’s latest interim Management’s Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company’s Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials, including the technical reports filed with respect to the Company’s mineral properties.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.