AbraPlata Closes First Tranche of Non-Brokered Private Placement

2019-04-08 / @thenewswire

(TheNewswire)

NOT FOR DISTRIBUTION IN THE U.S. OR DISSEMINATION THROUGH U.S. NEWSWIRE SERVICES

VANCOUVER, B.C. / TheNewswire / April 8, 2019, - AbraPlata Resource Corp. (TSX.V:ABRA; OTCPK: ABBRF) ("AbraPlata" or the "Company") is pleased to announce that it has closed an initial tranche of its previously announced non-brokered private placement. In connection with closing of the initial tranche, the Company issued 10,384,000 units (each, a “Unit”) at a price of $0.05 per Unit for gross proceeds of $519,200. Each “Unit” consists of one common share of the Company and one common share purchase warrant (each, a “Warrant”). Each warrant entitles the holder to acquire an additional common share at a price of $0.10 for a period of sixty-months.

The Company intends to complete a further tranche of the placement.

The proceeds of the Financing will be used for general working capital purposes. In connection with the completion of the initial tranche of the placement, the Company paid finders’ fees of $1,500, to certain parties who assisted the Company by introducing subscribers to the placement. The Company may pay additional finder's fee on subsequent tranches of the placement.

All securities issued in connection the closing of the initial tranche of the placement, and any subsequent tranches, will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws. Completion of any further tranches of the placement remain subject to the approval of the TSX Venture Exchange.

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.

Qualified Person

All scientific and technical information in this news release has been approved by Willem Fuchter, PhD PGeo, consultant to and Director of AbraPlata and a qualified person as defined by National Instrument 43-101.

About AbraPlata

AbraPlata is a junior mining exploration company focused on unlocking mineral value in Argentina. The Company has assembled an outstanding portfolio of gold, silver and copper exploration assets. The Company is focused on exploring and advancing its flagship Diablillos silver-gold property, which has an Indicated Mineral Resource containing 80.9M oz silver and 732k oz gold. In addition, AbraPlata owns the highly prospective Cerro Amarillo property, which hosts a cluster of five mineralized Cu-(Mo-Au) porphyry intrusions and is located in a mining district hosting the behemoth El Teniente, Los Bronces, and Los Pelambres porphyry Cu-Mo deposits.

ON BEHALF OF ABRAPLATA RESOURCE CORP.

Robert Bruggeman
Interim CEO

For further information concerning this news release, please contact:

Rob Bruggeman

Tel: +1.416.884.3556 Email: rob@abraplata.com

This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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.

For further information about AbraPlata and its projects, please visit the Company’s website at www.abraplata.com.