Altiplano Metals Inc. (TSX-V: APN) (WKN: A2JNFG) is pleased to announce that it has closed its previously announced non-brokered private placement of up to 9,571,430 units at C$0.175 per Unit (see the Company’s press release dated October 13, 2020), to raise C$1,675,000 in gross proceeds.
Each Unit consists of one common share of the Company, and one non-transferable share purchase warrant to acquire one additional common share at a price of C$0.25 per share until October 15, 2022. In the event that the common shares of the Company trade at a closing price greater than $0.35 per share for a period of 10 consecutive days, then the Company may deliver a notice to the Warrant holders that they must exercise their Warrants within the next 30 days, or the Warrants will expire.
Certain arm’s length finders received cash fees of $17,854 and 102,024 finders warrants, issued on the same terms as the Warrants in the Offering. All the securities issued will be subject to resale restrictions until February 17, 2021.
The net proceeds of the Offering will be used to fund the construction of the Company’s own processing facility and the completion of the current exploration and development programs, and general working capital.
Altiplano Metals Inc. is a Canadian mineral development company focused on acquiring projects with significant potential for advancement from discovery through to production. Altiplano’s goal is to grow into a mid-tier mining company through developing a portfolio of near-by production and cash flowing assets focusing on copper, gold and silver. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value.
Altiplano is part of the Metals Group portfolio of companies. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection, uncompromising corporate governance and a unique ability to pan through the rubble to discover and develop golden opportunities.
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