VANCOUVER, April 15, 2016 /CNW/ - Wealth Minerals Ltd.
(the "Company" or "Wealth") - (TSXV: WML; Frankfurt: EJZ),
announces that, on April 14, 2016, it
closed the settlement of $687,000.00
in debt related to certain accounts payable to Cardero Resource
Corp. and a portion of the principal sum of certain outstanding
loans originally made to the Company in 2011. The Company
issued 2,000,000 common shares at a deemed price of $0.21 in settlement of such debt. The
common shares issued have a hold period in Canada expiring on August 14, 2016.
The foregoing securities have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the
"1933 Act") or any applicable state securities laws and may not be
offered or sold in the United
States or to, or for the account or benefit of, U.S. persons
(as defined in Regulation S under the 1933 Act) or persons in
the United States absent
registration or an applicable exemption from such registration
requirements. This press release shall not constitute an
offer to sell or the solicitation of an offer to buy nor shall
there be any sale of the foregoing securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
About Wealth Minerals Ltd.
Wealth's strategy is to acquire undervalued projects with low
exploration risk, attractive grades and potentially low capital
requirements. Management insist that projects be located in
stable and development-friendly geopolitical jurisdictions and that
capital required for development is not excessive within the
context of each commodity. The focus over the past few years
has been on the acquisition of precious metals projects. The
proposed acquisition of Li3 offers a new kind of opportunity where
helping to meet emerging lithium demand is expected to create
additional value for shareholders. The Company will also
continue to move forward with its existing precious metals
projects, such as Yanamina (Peru)
and Valsequillo (Mexico).
For further details on the Company readers are referred to the
Company's web site (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
President & CEO
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 press release, which has been prepared by
management.
Cautionary Note Regarding Forward-Looking
Statements
This press release contains forward-looking statements and
forward-looking information (collectively, "forward-looking
statements") within the meaning of applicable Canadian and US
securities legislation. All statements, other than statements
of historical fact, included herein including, without limitation,
statements regarding the anticipated business plans 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. The Company cautions investors that any
forward-looking statements by the Company or any of its joint
venture partners are not guarantees of future results or
performance, and that actual results may differ materially from
those in forward looking statements as a result of various factors,
including, but not limited to, the state of the financial
markets for the Company's equity securities, the state of the
commodity markets generally, variations in the nature,
quality and quantity of any mineral deposits that may be located,
variations in the market price of any mineral products the Company
may produce or plan to produce, the inability of the Company to
obtain any necessary permits, consents or authorizations required
for its or their activities, the inability of the Company to
produce minerals from their properties successfully or profitably,
to continue its projected growth, to raise the necessary capital or
to be fully able to implement its business strategies, and other
risks and uncertainties disclosed in the Company's latest interim
Management 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.
This press release is not, and is not to be construed in any
way as, an offer to buy or sell securities in the United States.
SOURCE Wealth Minerals Limited
