Altiplano Closes Private Placement
EDMONTON, March 18, 2020 – Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) (“Altiplano” or the “Company”) is pleased to announce that is it has closed the second and final tranche of 3,166,666 units of its previously announced private placement offering (the “Offering”) of up to 8,333,333 units (the “Units”) at an offering price of $0.06 per Unit (see the Company’s press release dated March 2), to raise gross proceeds under the two closings of $500,000. Each Unit consists of one (1) common share and one-half (1/2) non-transferable share purchase warrant (the “Warrants”) of the Company.
Each whole Warrant will be exercisable to acquire one (1) additional common share for two years from issuance at a price of C$0.10 per share. In the event that the common shares of the Company trade at a closing price greater than $0.20 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 in total equal to $22,400 and were also issued a total of 373,333 Warrants in connection with the Offering.
Completion of the Offering is subject to TSX Venture Exchange’s final acceptance. All the securities issued in first tranche closed on February 18 will be subject to a hold period until June 19, 2020. All securities issued in the final close will be subject to a hold period until July 19, 2020 in accordance with applicable securities law. The 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.
Altiplano Metals Inc. (APN: TSX?V) is a mineral exploration company focused on evaluating and acquiring projects with significant potential for advancement from discovery through to production, in Canada and abroad. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value. Additional information concerning Altiplano can be found on its website at www.apnmetals.com.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
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.