Alturas Announces Debt Settlement
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PRESS RELEASE TSXV, BVL: ALT
Alturas Announces Debt Settlement
Toronto, Canada and Lima, Peru, December 12, 2017 – Alturas Minerals Corp. (the
“Company” or “Alturas”) (TSX-V, BVL: ALT) announced today that it has entered into agreements to
settle an aggregate of $826,134.24 of debt owed to certain insiders of the Company and third-party
contractors in consideration for the issuance of 16 ,522,865 common shares of the Company at a
deemed price of $0.05 per share pursuant to the min imum pricing rules of the TSX Venture
Exchange (“TSXV”). A total of $515,815 of the debt is held by current and former insiders of the
Company and includes management fees, director fees and loans made to the Company dating
back to July, 2013. Insiders and former insiders w ill receive a total of 10,316,306 common shares
on completion of the debt settlement. The disinter ested directors of the Company have approved
the debt settlements with the respective insiders a nd their associates and affiliates. The debt
settlement is subject to TSXV approval. Closing of the debt settlement will occur immediately
following approval from TSXV.
The insider debt settlements are exempt from the va luation and minority shareholder approval
requirements of Multilateral Instrument 61-101 (“MI 61-101”) by virtue of the exemptions
contained in sections 5.5(a) and 5.7(1)(a) of MI 61 -101 in that the fair market value of the
consideration for the securities of the Company to be issued to insiders does not exceed 25% of its
market capitalization.
In addition, the Company wishes to announce that it has granted 10,500,000 options exercisable at
$0.05 for five (5) years to two (2) officers, three (3) directors and one (1) employee of the Company.
All securities issued pursuant to the above-referen ced debt settlements are subject to a statutory
four months hold-period and regulatory approval.
About Alturas Minerals Corp
Alturas is a Canadian corporation, and is the indir ect parent of the Peruvian company, Alturas Mineral s S.A.
(“Alturas Peru”) and of the Chilean company, Altura s Chile Limitada (“Alturas Chile”). Alturas Peru ha s been
exploring various mineral projects in Peru since Ja nuary 2004 and has the Huajoto project, and the Som brero
project, the later optioned to Auryn Resources Inc. , both projects are at a drilling-stage. Alturas al so entered
into a transfer agreement on its Pampa Colorada pro perty in northern Peru with Origen Group S.A.C. but
maintains royalty rights and a claw back clause on 60-100% of the mining rights under certain conditio ns (see
press release dated January 5th, 2012). In 2014, Al turas interrupted its exploration activities in Chi le and is
focused in maintaining its exploration projects in Peru.
For further information, please visit the Company's website at www.alturasminerals.com
or contact Alturas at:
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Phone: + 51-1- 372-3739 (Lima, Peru)
+ 1-416-363-4900 (Toronto, Canada)
Email: [email protected]
Alturas Minerals Corp.
1 Toronto Street, Suite 201, Toronto, Ontario M5C 2V6
Should you wish to receive Company news via email, please email [email protected] and specify
“Alturas News” in the subject line.
The TSX Venture Exchange and the Bolsa de Valores de Lima do not accept responsibility for the adequacy or
accuracy of this release.
Cautionary Language and Forward-Looking Statements
This press release may contain “forward-looking sta tements”, which are subject to various risks and un certainties that
could cause actual results and future events to dif fer materially from those expressed or implied by s uch statements.
Investors are cautioned that such statements are no t guarantees of future performance and results. Ri sks and
uncertainties about the Company’s business are more fully discussed in the Company’s disclosure docume nts filed from
time to time with the Canadian securities authorities