Western Alaska Minerals Corp. Announces Completion of US$1,200,000 Unsecured Loan
TUCSON, AZ, March 21, 2025 – Western Alaska Minerals Corp. (WAM), a mineral exploration company with a focus on developing projects in Western Alaska, is pleased to announce that it has successfully completed an unsecured loan transaction with a group of lenders (the “Lenders”).
Terms of the Loan
Under the terms of the loan agreement, the Company has issued promissory notes in the aggregate principal amount of US$1,200,000 (the “Notes”). The loan (the “Loan”) will mature after a period of 36 months, and during this term, it will accrue interest at an annual rate of 10%.
Impact on Western Alaska Minerals Corp.
The Loan is a significant development for Western Alaska Minerals Corp., as it provides the company with the necessary financial resources to continue its mineral exploration activities in Western Alaska. The funds will be used to finance ongoing operations, including drilling programs and other exploration expenses.
Impact on Shareholders
The successful completion of the Loan is positive news for WAM shareholders, as it strengthens the company’s financial position and increases its ability to execute its business strategy. The Loan will help WAM continue its exploration efforts, potentially leading to the discovery of new mineral deposits and increasing shareholder value.
Impact on the Mining Industry and Economy
Beyond the direct impact on Western Alaska Minerals Corp., the successful completion of the Loan is also a positive sign for the mining industry and the economy as a whole. The availability of financing for mineral exploration and development projects is crucial for the industry’s growth and job creation. This transaction demonstrates the continued investor interest in the mining sector and the potential for significant mineral discoveries in Western Alaska.
Conclusion
Western Alaska Minerals Corp. is pleased to announce the successful completion of an unsecured loan transaction with a group of lenders, providing the company with US$1,200,000 in financing to continue its mineral exploration activities in Western Alaska. The Loan is a significant development for WAM, its shareholders, and the mining industry, as it strengthens the company’s financial position and increases its ability to execute its business strategy. The discovery of new mineral deposits could lead to increased shareholder value and contribute to the growth of the mining industry and the economy.
- Western Alaska Minerals Corp. completes US$1,200,000 unsecured loan transaction
- Loan matures in 36 months with an annual interest rate of 10%
- Funds will be used for ongoing operations, including drilling programs and exploration expenses
- Positive sign for the mining industry and the economy
- Strengthens WAM’s financial position and increases its ability to execute its business strategy
- Potential for significant mineral discoveries in Western Alaska
