Altiplano Announces Private Placement
Altiplano Announces Private Placement
Edmonton, Alberta--(Newsfile Corp. - December 21, 2023) -
Altiplano Metals Inc.
(TSXV: APN) (WKN:
A2JNFG) ("
Altiplano
" or the "
Company
") is pleased to announce that it has arranged a non-brokered
private placement (the "Offering") of up to 6,000,000 units (the "Units") at C$0.10 per Unit to raise up to
C$600,000 in gross proceeds.
Each Unit will consist of one (1) common share and one (1) non-
transferable share purchase warrant (the "Warrants") of the Company.
Each Warrant will be exercisable to acquire one (1) additional common share at a price of C$0.12 per
share for two years from the closing date of the Offering provided that if the closing market price for the
Company's common shares is equal to or greater than C$0.20 per share for a period of five (5)
consecutive trading days at any point during the term (the "Acceleration Clause"), then the Company
may deliver a notice that the Warrants must be exercised within thirty (30) days from the date of delivery
of such Notice, otherwise the Warrants will expire at 4:30 p.m. (Vancouver time) on the thirty-first (31st)
day after the date of delivery of the Notice.
Completion of the Offering is subject to the delivery of definitive subscription agreements and TSX
Venture Exchange's acceptance.
All of the securities issued pursuant to this Offering will have a hold
period expiring four months and a day after the closing date.
The net proceeds of the Offering will be
used primarily for the Company's Farallon Project and El Penon processing facility in Chile, and for
general working capital purposes. The Company may pay finder's fees raised in connection with the
financing to arm's length finders in accordance with the policies of the TSX Venture Exchange and as
permitted by law.
Previous Placement
The Company also confirms that its previously announced private placement, which closed on a first
tranche on August 29, 2023 (see news release
here
), has received no further subscriptions and is now
fully closed with all requisite and final TSX Venture Exchange approvals.
All warrants issued pursuant the
previous private placement are subject to the same Acceleration Clause as described above.
About Altiplano
Altiplano Metals is a growing gold, silver, and copper company focused on the Americas. The Company
has a diversified portfolio of assets that include an operating copper/gold/iron mine and a state-of-the-art
operating copper/gold and iron processing facility in the final stages of completion. Altiplano is focused
on creating long-term stakeholder value through developing safe and sustainable production, reinvesting
into exploration, and pursuing acquisition opportunities to complement its existing portfolio. Management
has a substantial record of success in capitalizing on opportunity, overcoming challenges and building
shareholder value. Altiplano trades on the TSX.V under the symbol APN and the Frankfurt Exchange
under the symbol A2JNFG.
Altiplano is part of the Metals Group of companies, managed by an award-winning team of professionals
who stand for technical excellence, painstaking project selection and uncompromising corporate
governance, with a proven ability to capitalize on investment opportunities and deliver shareholder
returns.
www.metalsgroup.com
ON BEHALF OF THE BOARD
/s/
"John Williamson"
Chairman
For further information, please contact:
Alastair McIntyre, CEO
Tel: (416) 434-3799
Jeremy Yaseniuk, Director
Tel: (604) 773-1467
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. A qualified person has not done sufficient work to classify any historical estimates as
current mineral resources or mineral reserves and the issuer is not treating the historical estimates as
current mineral resources or mineral reserves. The Farellon mine was previously in production dating
back to the 1970's with a reported historical production (to a depth of 70 m) yielding approximately
300,000 tonnes at an average grade of 2.5% copper and 0.5g/t gold. This material was processed
locally and sold to ENAMI. Altiplano is relying upon past production records, underground sampling
and related activities and current diamond drilling to estimate grade and widths of the mineralization
to reactivate production. The decision to commence production on the Farellon deposit is not based
on a feasibility study of mineral reserves demonstrating economic and technical viability and there is
increased uncertainty and economic and technical risks of failure associated with any production
decision. 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
.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/192030