In 2021, Western Alaska Copper & Gold, a private Alaska-registered corporation, entered into a business combination agreement with a British Columbia numbered company to complete a Reverse Takeover (“RTO”) by way of a plan of merger. In connection with the RTO, in October 2021, the company completed a concurrent C$5.2M financing and applied to the TSX.V to list its common shares of the resulting issuer, Western Alaska Minerals (WAM), as a Tier 1 Mining Issuer. The RTO was completed in November 2021 and trading began on the Exchange under the symbol “WAM” on November 15, 2021.
|Common Shares Outstanding||19.24 million|
|Proportional Shares Equivalent*||23.9 million|
|Shares Outstanding (F/D)||46.1 million*|
- The purpose of the Proportional Shares is so the Company qualifies as a foreign private issuer under U.S. securities laws. Approximately 238,600 of the issued shares are currently compressed, “Proportional Shares”, each of which is convertible to 100 Common Shares. This yields 23,860,000 common shares. Each Proportional Share has voting and economic rights on an as-converted basis. For purposes of market capitalization and financial analysis, it is appropriate to convert the Proportional Shares to Common Shares. The Proportional Shares are convertible to common shares at the request of the shareholders and in the discretion of the Company.