Avrupa Minerals Announces Private Placement and Proposed Share Consolidation
1
TSX-V: AVU
US OTC: AVPMF
FRANKFURT: 8AM
410 – 325 Howe Street, Vancouver, BC Canada V6C 1Z7 T: (604) 687-3520 F: (888) 889-4874
October 9, 2020 NR 06 - 2020
Avrupa Minerals Announces Private Placement
and Proposed Share Consolidation
Vancouver, B.C., October 9 , 2020 - Avrupa Minerals Ltd. (AVU:TSXV) is pleased to
announce that it intends to complete a $500,000 private placement and a four (4) to one
(1) share consolidation.
Private Placement
Subject to the approval of the TSX Venture Exchange (the “Exchange”), the Company
intends to proceed to a non- brokered private placement offering (the “Offering”) for
aggregate gross proceeds of a maximum of $500,000. The Offering will be comprised of
up to 16,666,666 units (each, a “Unit”) at a price of $0.03 on a pre-consolidation basis.
The pricing of the Offering is in reliance of the Temporary Reli ef Measures of the $0.05
Minimum Pricing Requirement (the “Temporary Relief Measures”) established by the
Exchange on April 8, 2020. In response to the COVID -19 pandemic, the Exchange
published the Temporary Relief Measures, lowering the minimum price from $0.05 to
$0.01 per share for shares issued pursuant to a private placement, where the market
price of an issuer’s shares is not greater than $0.05. The Company will seek to utilize
such Temporary Relief Measures.
Each Unit will be comprised of one common share in the capital of the Company and
one common share purchase warrant (each, a “Warrant”). Each Warrant will entitle the
holder thereof to purchase one additional common share of the Company at an exercise
price of $0.05 per common share on a pre- consolidation basis, for a period of 36
months from the date of closing of the Offering. Finders' fees of 7% in cash and 7% in
finder warrants will be paid to eligible parties.
The proceeds from the issuance of t he Units will be used by the Company to provide
working capital for exploration programs in Portugal, Kosovo, potential new acquisitions,
and for general corporate purposes.
Closing of the Offering is subject to all applicable regulatory approvals, including the
approval of the Exchange. All securities are subject to a hold period of four months and
one day in accordance with applicable securities laws.
2
Share Consolidation
The Co mpany intends to consolidate its outstanding common shares on the basis of
one (1) post -consolidation common share for every four (4) pre-consolidation common
shares (the “Consolidation”). The Company will hold its next annual general and special
meeting of shareholders on December 14, 2020 and will seek shareholder approval for
the Consolidation at that meeting as required by the Company’s articles.
As of the date hereof, the Company has 114 ,073,797 common shares outstanding.
Assuming the private placement is fully subscribed, the Company will have 130,740,463
pre-consolidation common shares issued and outstanding and, upon completion of the
Consolidation, the Co mpany will have 32,685,116 post-consolidation common shares
issued and outstanding.
The board of directors believes it is in the best interest of the Company to approve the
Consolidation. The Consolidation will increase the Company’s flexibility and
competitiveness in the market place and make the Company’s securities more attractive
to a wider audience of potential investors, thereby resulting in a more efficient market
for its common shares.
The Consolidation will affect all shareholders of the Company uniformly and affect all of
the Company’s stock options and warrants issued and outstanding at the effective date.
At the time of the Consolidation, the number, exchange basis or exercise price of all
stock options and warrants issued and outstanding will be adjusted to reflect the
Consolidation.
The Consolidation is subject to shareholder and regulatory approval, including the
approval of the Exchange.
Avrupa Minerals Ltd. is a growth -oriented junior exploration and development
company directed to discovery of mineral deposits, using a hybrid prospect generator
business model. The Company holds one 100% -owned license in Portugal, the
Alvalade VMS Project, now optioned to MATSA in an earn- in joint venture agreement.
Avrupa focuses its project generation work in politically stable and prospective regions
of Europe, presently including Portugal and Kosovo. The Company continues to seek
and develop other opportunities around Europe.
For additional information, contact Avrupa Minerals Ltd. at 1- 604-687-3520 or visit our
website at www.avrupaminerals.com.
On behalf of the Board,
“Paul W. Kuhn”
Paul W. Kuhn, President & Director
3
This news release was prepared by Company management, who take full responsibility for its content. Paul W.
Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the
Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian
Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not onl y
reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news
release.
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.