Altiplano Announces Closing of Over-Subscribed Unit Private Placement
EDMONTON, Alberta, Feb. 27, 2017 (GLOBE NEWSWIRE) -- Altiplano Minerals Ltd. (TSXV:APN) (“APN” or the “Company”) announces that it has completed the closing of the non-brokered private placement previously announced on January 13, 2017 (the “Offering”), which the Company increased by $500,000 to cover over-subscriptions. In result, the Company has closed the sale of 20,000,000 units (the “Units”) at C$0.15 per Unit to raise C$3.0 million in gross proceeds. Each Unit consisted of one (1) common share and one (1) non-transferable share purchase warrant (the “Warrants”) of the Company. Each Warrant is exercisable to acquire one (1) additional common share of the Company at an exercise price of $0.25 per share until February 27, 2019.
The Company also paid cash finders’ fees of $190,636.38 and issued 1,270,909 Warrants to certain arm’s length finders in connection with the Offering, representing 8.0% of the proceeds raised and 8.0% of the Units sold by such finders. Fort Capital Inc. acted as a capital markets advisor to the Company in connection to the private placement.
All of the securities issued pursuant to this Offering will have a hold period expiring on June 28, 2017. The net proceeds of the Offering will be used for the Company’s general working capital purposes.
About Altiplano
Altiplano Minerals Ltd. (TSX‐V:APN) is a mineral exploration company focused on evaluating and acquiring projects with significant potential for advancement from discovery through to production, in Canada and abroad. Management has a substantial record of success in capitalizing opportunity, overcoming challenges and building shareholder value. Additional information concerning Altiplano can be found on its website at www.altiplanominerals.com.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
President and CEO
Tel: (780) 437-6624
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.