Mr. Paul Kuhn reports
AVRUPA ANNOUNCES $1.5 MILLION FINANCING
Avrupa Minerals Ltd. has arranged a financing of $1.5-million to finance the drilling program at the Alvalade copper-zinc-lead volcanogenic massive sulphide project in Portugal and for general working capital.
Drill program at Alvalade
Avrupa Minerals recently announced a 2,500-to-3,000-metre drill program to expand currently known mineralized areas and to determine the potential size of the mineralization found to date at its Alvalade volcanogenic massive sulphide project in Portugal's Iberian pyrite belt. Most of the financing proceeds will be used for this drilling program and positive results will determine the next steps for the program at Alvalade.
Financing terms
Avrupa Minerals plans to issue 30 million units at five cents per unit. Each unit comprises one common share and one common share purchase warrant. Each warrant will allow the holder to buy an additional share from the closing date for a 36-month period at a price of 10 cents per warrant. Avrupa Minerals will have a provision to accelerate the exercise of the warrants if the common shares close at a price of 20 cents or greater for a period of 20 consecutive trading days.
Insiders of the company may be participating in this non-brokered offering. Avrupa Minerals may also pay finders' fees to qualified finders.
About Avrupa Minerals Ltd.
Avrupa Minerals is a growth-oriented junior exploration and development company directed to discovery of mineral deposits using a prospect generator model.The company holds one 100-per-cent-owned, self-financed flagship project, the Alvalade volcanogenic massive sulphide project.Avrupa Minerals focuses its project generation work in politically stable and prospective regions of Europe, including Portugal, Kosovo and Germany.
This news release was prepared by company management, which takes full responsibility for its content. Paul Kuhn, president and chief executive officer of Avrupa Minerals, licensed professional geologist, registered member of the Society of Mining Engineers, is a qualified person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
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