Altiplano Announces Repayment of Loan Liability and Accelerates Outstanding Warrants
Altiplano Announces Repayment of Loan
Liability and Accelerates Outstanding
Warrants
Edmonton, Alberta--(Newsfile Corp. - March 25, 2021) -
Altiplano Metals Inc.
(TSXV: APN) (WKN:
A2JNFG) (
"Altiplano"
or the
"Company
") is pleased to announce that it has accelerated and fully
repaid $800,000 in outstanding loans payable to certain arm's length investors of the Company pursuant
to a debt financing that closed on March 24, 2020 (the "Debt Financing").
In addition, the Company has
made the final installment payment of $100,000 to Comet Exploration Ltd., thus eliminating the 10% net
profits interest ("NPI") due to Comet from profits derived from APN's Chilean projects (see press
release dated April 16, 2020).
CEO Alastair McIntyre comments, "I am pleased to report the Debt Financing loans and NPI agreements
are off of the Company books earlier than expected. The expiry of these obligations is very positive for
the Company as they strengthen our balance sheet and improve future cash flows. The final payment on
the NPI has the net benefit of removing $1.3 million in future payment obligations and, combined with the
expiry of the future payments on the loans, provides the Company the opportunity to re-invest in current
operations and to provide liquidity and flexibility for additional acquisitions."
Further, the Company announces it has elected to accelerate the expiry date of 6,500,000 warrants
outstanding, originally issued as part of the Debt Financing which were originally set to expire on March
24, 2023. Under the terms of the warrants, APN is permitted to accelerate their expiry date if the closing
price for the Company's common shares as traded on the TSX Venture Exchange is equal to or greater
than $0.20 per share for any 10 consecutive trading days. Accordingly, APN has chosen to accelerate
the expiry date of the warrants to April 26, 2021.
About Altiplano
Altiplano Metals Inc. (TSXV: APN) is a Canadian mining company focused on the acquisition and
development of near-term cash flowing assets and exploration projects of significant scale. Altiplano's
goal is to grow into a mid-tier producer of copper, gold and silver with immediate plans of generating
profits from three cash flowing projects in 2021. Management has a substantial record of success in
capitalizing on opportunity, overcoming challenges and building shareholder value.
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:
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. 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/78599