The Prospector News

Altamira Gold Raises $1.4 Million Through Exercise of Warrants

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

Altamira Gold Raises $1.4 Million Through Exercise of Warrants

 

 

 

 

 

Altamira Gold Corp.’s (TSX-V: ALTA) (FSE: T6UP) (OTC Pink: EQTRF) announces that the Company has raised $1,432,087 since the February 5th, 2021 closing of the most recent placement.  These funds were received as a result of the exercise of 12,334,466 share purchase warrants that were issued in connection with several previous non-brokered private placements. Altamira currently has 59,126,224 warrants outstanding, with a weighted average exercise price of $0.20 and a weighted remaining contractual life of 1.32 years

 

 

Officers and directors of the Company exercised a total of 1,072,800 warrants for proceeds of $160,920. Of this total, the CEO of the Company exercised a total of 672,800 warrants representing proceeds of $100,920, and the Company’s Chairman exercised a total of 400,000 warrants representing proceeds of $60,000. In connection with the exercise of the warrants, the CEO and the Chairman sold 284,000 and 170,000 common shares respectively for proceeds of $102,458 and $61,320.

 

 

Michael Bennett, President & CEO commented “We would like to thank our long-term shareholders, for supporting the Company through the process of exercising these warrants. The exercise of these warrants provides sufficient funds to ensure the completion of a well-financed exploration drill program well into 2022.”

 

 

Qualified Person

 

 

Guillermo Hughes, P. Geo., a consultant to the Company as well as a Qualified Person as defined by National Instrument 43-101, supervised the preparation of the technical information in this news release.

 

 

Neither the 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 release.

 

 

About Altamira Gold Corp.

 

 

The Company is focused on the exploration and development of gold projects within western central Brazil. The Company holds 8 projects comprising approximately 190,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company’s advanced Cajueiro project has NI 43-101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold for a total of 515,000oz in the Inferred Resource category.

 

Posted May 5, 2021

Share this news article

MORE or "UNCATEGORIZED"


Skeena Resources Closes C$34.5 Million Bought Deal Offering of Common Shares

Skeena Resources Limited (TSX: SKE) (NYSE: SKE) announced the clo... READ MORE

September 23, 2022

Glencore to Acquire Newmont’s 18.75% Shareholding in the Mara Project

Today Glencore International AG announced, and has made Yamana Go... READ MORE

September 23, 2022

Rusoro Announces Closing of $1,250,000 Private Placement

Rusoro Mining Ltd. (TSX-V: RML) is pleased to announce that on Se... READ MORE

September 23, 2022

Revival Gold Intersects 10.1 g/t Gold Over 11.4 Meters Within 3.5 g/t Gold Over 115.4 Meters at Beartrack-Arnett

Revival Gold Inc. (TSX-V: RVG) (OTCQX: RVLGF) is pleased to annou... READ MORE

September 23, 2022

Avalon and LG Energy Solution Sign Memorandum of Understanding to Accelerate Ontario's Lithium Battery Materials Supply Chain

Avalon Advanced Materials Inc. (TSX: AVL) (OTCQB: AVLNF) is plea... READ MORE

September 23, 2022

We acknowledge the [financial] support of the Government of Canada.

Government of Canada Supported
Copyright 2022 The Prospector News