Altiplano Closes Initial Tranche of Private Placement
Altiplano Closes Initial Tranche of Private
Placement
Edmonton, Alberta--(Newsfile Corp. - August 29, 2023) -
Altiplano Metals Inc.
(TSXV: APN) (WKN:
A2JNFG)
("Altiplano"
or the
"Company
") is pleased to announce that it has closed a first tranche of its
non-brokered private placement (the "
Offering
") of up to 10,000,000 units (the "
Units
") at $0.10 per Unit
to raise up to $1,000,000 in gross proceeds. In this close, the Company has raised $200,000 through
the issuance of 2,000,000 Units. Each Unit consists of one (1) common share of the Company, one (1)
non-transferable share purchase warrant (the "
Warrants
") of the Company.
Each Warrant will be
exercisable to acquire one (1) additional common share for two years from the closing date of the
Offering at a price of C$0.12 per share.
Certain arm's length finders received cash fees of $11,000 and 110,000 finders warrants, issued on the
same terms as the Warrants in the Offering. All the securities issued will be subject to resale restrictions
until December 31, 2023.
The net proceeds of the Offering will be used to support working capital
requirements as the Company transitions its production and sales process to the new processing facility
at El Peńoń and to further develop other assets.
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 Toronto Venture Exchange trading under the symbol APN and
the Frankfurt Exchange under the symbol A2JNFG.
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/178940