Avrupa Minerals Ltd. Closes $506,357 Private Placement
Vancouver, Oct. 26, 2020 - Avrupa Minerals Ltd. (TSXV:AVU) (OTC:AVPMF) (FSE:8AM) is pleased to report that the financing announced on October 9, 2020 has now been closed. A total of $506,357 from the issuance of the 16,878,566 units was raised to provide working capital for exploration programs in Portugal, Kosovo, potential new acquisitions, and for general corporate purposes. Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, "We are pleased with the continued strong support from our shareholders and new investors. Avrupa is moving ahead with the partner-funded Alvalade copper-zinc project where we expect to commence with drilling and an airborne geophysical program in the coming weeks. We are actively considering the acquisition of certain attractive base and precious metals possibilities around Europe, any one of which will enhance our portfolio."
Each unit is comprised of one common share and one common share purchase warrant at $0.03 per unit. The warrant is valid for three years expiring October 23, 2023 and is exercisable at $0.05 to acquire one common share.
All securities are subject to a four-month hold expiring on February 24, 2021.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a hybrid prospect generator business model. The Company holds one 100%-owned license in Portugal, the Alvalade VMS Project, now optioned to MATSA in an earn-in joint venture agreement. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal and Kosovo. The Company continues to seek and develop other opportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com.
On behalf of the Board,
"Paul W. Kuhn"
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a 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, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
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.