Altan Nevada Minerals Announces Private Placement
Altan Nevada Minerals Announces Private Placement
VANCOUVER, BC (September 24, 2021) - Altan Nevada Minerals Limited (TSX-V: ANE) ("Altan Nevada"
or the "Company") announced today a non-brokered private placement of up to 47,164,000 common shares
of the Company (the "Shares") at a price of C$0.01 per Share for aggregate gross proceeds to the Company
of up to C$471,640 (the "Offering").
The Company is relying on the temporary relief measures first announced by the TSX Venture Exchange
(the "Exchange") on April 8, 2020, and most recently extended on June 17, 2021 to be effective until
December 31, 2021, in response to the COVID-19 pandemic (the "Temporary Relief") in offering the Shares
at a price that is less than C$0.05 per Share. Under the Temporary Relief, the minimum offering price for
private placements has been revised from C$0.05 to C$0.01 in circumstances where the Market Price (as
such term is defined in the policies of the Exchange) of an issuer's listed shares is not greater than $0.05.
The current Market Price of the Shares is $0.01.
The Company has previously relied on the Temporary Relief to issue 22,500,000 Shares and under the
Temporary relief, the aggregate number of Shares it may issue relying on this exception is not more than
100% of the Shares had outstanding on April 7, 2020. The Company had 69,664,943 Shares outstanding on
April 7, 2020, and accordingly, can issue up to an additional 47,164,943 Shares pursuant to the Temporary
Relief.
Under the Offering, the Company may pay a finder's fee in respect of those purchasers under the Offering
introduced to the Company by certain parties (each a "Finder"). Each Finder will receive a cash payment
equal to 6% of the gross proceeds received by the Company from purchasers under the Offering who were
introduced to the Company by such Finder.
The Company intends to use the proceeds from the Offering to maintain its interest s in the Venus Copper
Project and the Montelle Project, both located in the State of Nevada, to repay certain funds loaned to the
Company by Altan Rio Minerals Limited, a company with common officers and directors, and for general
working capital and administrative expenses.
About the Venus Copper Project
The Venus Copper Project, which is 100% owned by Altan Nevada, is located within the Yerington copper
porphyry district in the Walker Lane mineralized belt in Nevada. It is approximately six miles east -southeast
of the Yerington township, and easily access ible by both paved and dirt roads. The Venus Copper Project
consists of 111 unpatented mining claims covering approximately 2,165 acres (~8.76 km²), all situated on
Bureau of Land Management (Federal) land.
About the Montelle Project
The Montelle Project, which is 100% owned by Altan Nevada, lies 28 km west -northwest of Hawthorne,
Nevada and is 35 km south-southeast of major copper and copper-gold projects in the Yerington mining district
(Nevada Copper, Entrée Gold, Quaterrra Resources), approximately 18 km east-southeast of Lincoln Mining's
Pine Grove gold project and 30 km north- northwest of the past producing Borealis gold mine. The Montelle
Project covers approximately 1,220 acres (~4.9km 2), all situated on Bureau of Land Management (Federal)
land.
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On behalf of Altan Nevada Minerals Limited
For more information contact:
Paul Stephen
Chief Executive Officer
Email: [email protected]
+61 9322 1788
Cautionary Statement on Forward-Looking Information
This release may contain forward- looking statements. Forward- looking statements involve known and
unknown risks, uncertainties, and other factors which may cause the actual results, performance, or
achievements of Altan Nevada to be materially different from any future results, performance, or achievements
expressed or implied by the forward- looking statements. These forward- looking statements are based on
management's current expectations and beliefs but given the uncertainties, assumptions and risks, readers
are cautioned not to place undue reliance on such forward- looking statements or information. Actual results
may differ materially from those currently anticipated in such statements, and Altan Nevada undertakes no
obligation to update such statements, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of
the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.