Altiplano Announces Closing of Oversubscribed Private Placement
Edmonton, Alberta--(Newsfile Corp. - March 18, 2021) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to announce that it has closed and oversubscribed its previously announced non-brokered private placement (the "Offering"), as described in its press release dated March 8, 2021, pursuant to which it has issued an aggregate of 12,300,000 units (the "Units") at $0.25 per Unit for gross proceeds of $3,075,000.
Each Unit consists of one (1) common share of the Company, and one-half (1/2) non-transferable share purchase warrant (the "Warrants") to acquire one (1) additional common share at a price of C$0.40 per share until March 19, 2023. In the event that the common shares of the Company trade at a closing price equal to or greater than $0.60 per share for a period of 5 consecutive days during the final 18 months of the term of the Warrants, 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 $113,815 and 520,260 finders warrants, issued on the same terms as the Warrants in the Offering. All the securities issued will be subject to resale restrictions until July 20, 2021.
The net proceeds of the Offering will be used for current exploration and development programs and to support the construction of the Company’s own processing facility, and general working capital.
Grant of stock options
The Company has granted incentive stock options to various directors, officers and consultants to purchase up to 1,350,000 common shares of the Company on or before March 19, 2026, at an exercise price of $0.30 per share.
About Altiplano
Altiplano Metals Inc. (TSXV: APN) is a Canadian mining company focused on the acquisition and development of near-term cash flowing assets and exploration projects of significant scale. Altiplano's goal is to grow into a mid-tier producer of copper, gold and silver with immediate plans of generating profits from three cash flowing projects in 2021. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value.
Altiplano is part of the Metals Group of companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
Chairman
For further information, please contact:
Jeremy Yaseniuk, Director
jeremyy@apnmetals.com
Tel: (604) 773-1467
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.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
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