Altiplano Closes Proposed Private Placement
Altiplano Closes Proposed Private Placement
Edmonton, Alberta--(Newsfile Corp. - October 16, 2020) -
Altiplano Metals Inc.
(TSXV: APN) (WKN:
A2JNFG) (
"Altiplano"
or the
"Company"
) is pleased to announce that it has closed its previously
announced non-brokered private placement (the "
Offering
") of up to 9,571,430 units (the "
Units
") at
C$0.175 per Unit (see the Company's press release dated October 13, 2020), to raise C$1,675,000 in
gross proceeds.
Each Unit consists of one (1) common share of the Company, and one (1) non-transferable share
purchase warrant (the "
Warrants
") to acquire one (1) additional common share at a price of C$0.25 per
share until October 15, 2022.
In the event that the common shares of the Company trade at a closing
price greater than $0.35 per share for a period of 10 consecutive days, then the Company may deliver a
notice to the Warrant holders that they must exercise their Warrants within the next 30 days, or the
Warrants will expire.
Certain arm's length finders received cash fees of $17,854 and 102,024 finders warrants, issued on the
same terms as the Warrants in the Offering. All the securities issued will be subject to resale restrictions
until February 17, 2021.
The net proceeds of the Offering will be used to fund the construction of the Company's own processing
facility and the completion of the current exploration and development programs, and general working
capital.
About Altiplano
Altiplano Metals Inc. (TSXV: APN) is a Canadian mineral development company focused on acquiring
projects with significant potential for advancement from discovery through to production.
Altiplano's goal
is to grow into a mid-tier mining company through developing a portfolio of near-by production and cash
flowing assets focusing on copper, gold and silver. Management has a substantial record of success in
capitalizing on opportunity, overcoming challenges and building shareholder value.
Altiplano is part of the Metals Group portfolio of companies. Metals Group is an award-winning team of
professionals who stand for technical excellence, painstaking project selection, uncompromising
corporate governance and a unique ability to pan through the rubble to discover and develop golden
opportunities.
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/66145