Altiplano Announces Closing with Comet Exploration And Sale of Orogrande Property in Idaho APN: TSX
Altiplano Announces Closing with Comet
Exploration And Sale of Orogrande Property in
Idaho
APN: TSX
V
EDMONTON
,
Sept. 20, 2018
/CNW/ - Altiplano Metals Inc. (TSXV: APN) ("
APN
" or the
"
Company
") is pleased to announce that it has completed the purchase from Comet Exploration Inc.
of all of Comet's 50% interest in the Farellon and
Maria Luisa
projects in
Chile
as previously
announced (see APN's press release dated
December 11
, 2017). The final step to conclude the
transaction was the approval of the demerger agreement by the Chilean tax authorities, which has
now been granted.
The Company has also entered into an agreement (the "
Agreement
") for the sale and transfer all its
interests in the Orogrande Property in
Idaho
to Montego Resources Inc. ("
Montego
"), in
consideration of Montego's payment to the Company of
US$50,000
, and Montego's issuance to the
Company of 520,000 common shares in three (3) instalments at a deemed price of
CDN$0.25
per
share, subject to certain resale restrictions as described in the Agreement.
Completion of the disposition to Montego is subject to the consent and waiver of Velocity
USA
, Ltd.,
which holds a 1.5% net smelter returns royalty over the property, and the acceptance of the
Agreement for filing by the TSX Venture Exchange on behalf of the Company.
About Altiplano
Altiplano Metals Inc. (APN: TSX
V)
is a mineral exploration company focused on evaluating and
acquiring international projects with significant potential for advancement from discovery through to
production, with a primary focus on Chile. 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.apnmetals.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
.
SOURCE
Altiplano Metals Inc.
View original content:
http://www.newswire.ca/en/releases/archive/September2018/20/c4368.html
%SEDAR: 00030745E
For further information:
Jeremy Yaseniuk, Director, [email protected], Tel: (604) 773-
1467
CO: Altiplano Metals Inc.
CNW 16:05e 20-SEP-18