1177 W.
Hastings Street, Suite 1901
Vancouver, British Columbia, Canada
V6E 2K3
www.wealthminerals.com
NR08-03 April
25, 2008
WEALTH FILES FORM 15 TO VOLUNTARILY TERMINATE U.S. REGISTRATION
OF ITS COMMON SHARES
Vancouver, British Columbia… Wealth Minerals Ltd. (the “Company” or
“Wealth”) - (TSX Venture Exchange: WML, Frankfurt: EJZ), announces that
it has moved to voluntarily terminate the registration of its common shares
(the “Termination”) under the United States Securities Exchange Act of 1934 (the
“1934 Act”). On April 8, 2008, Wealth filed a Form 15-F with
the United States Securities and Exchange Commission, which had the effect of
immediately suspending its reporting obligations under the 1934 Act, including
Form 20-F and Form 6-K filings. Wealth expects the Termination to become
effective 90 days after the filing of the Form 15 (July 7, 2008). As a
consequence of the filing of the Form 15 and the suspension of its reporting
obligations, Wealth’s common shares are no longer eligible for trading on
the Over-the-Counter Bulletin Board (the “OTCBB”).
Wealth determined to proceed with the Termination
primarily due to the following factors:
1.
Wealth’s
common shares are listed on the TSX Venture and Frankfurt Stock Exchanges;
2.
Wealth does not
maintain a U.S.
listing of its common shares and currently has no plans to seek such a listing;
and
3.
A continued
registration under the 1934 Act would require Wealth to comply, as an
accelerated filer, with the full requirements of the Sarbanes-Oxley Act of 2002, and the Company does not believe
that the significant expense of such compliance can be justified by the limited
benefits that may be realized.
Wealth is current with all requirements under U.S. securities
laws. Wealth’s consolidated financial statements are prepared in
accordance with Canadian generally accepted accounting principles (“GAAP”)
and, due to the deregistration of its common shares under the 1934 Act, Wealth
will no longer provide a reconciliation note to U.S. GAAP in its annual
financial statements.
The Termination will not affect Wealth’s
continuous disclosure obligations in Canada. Wealth will continue
to file its continuous disclosure documents with the applicable Canadian
securities regulators, which will be made available at www.sedar.com.
About Wealth
Minerals Ltd.
Wealth is a well-financed mineral exploration company
with approximately 26.7 million shares issued and listings on the TSX Venture
and Frankfurt Stock Exchanges. The Company’s focus is the
acquisition and exploration of prospective uranium properties in Argentina and Peru. In addition to ongoing
work
programs on its existing properties, the Company continues
to evaluate the potential of several new uranium projects.
For further details on the Company readers are
referred to the Company’s web site (www.wealthminerals.com), Canadian
regulatory filings on SEDAR at www.sedar.com.
On Behalf of the Board of Directors of
WEALTH MINERALS LTD.
“Henk Van Alphen”
President & Chief Executive Officer
For further information, please contact:
Glenn
Shand
Phone:
604-331-0096 / 888-331-0096
E-mail: info@wealthminerals.com
The
TSX Venture Exchange has not reviewed and does not accept responsibility for
the adequacy or accuracy of the content of this news release, which has been
prepared by management.
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.
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