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AbraPlata Announces Non-Brokered Private Placement and Acceleration of Drilling Program at the Diablillos Silver-Gold Project
AbraPlata Announces Non-Brokered Private Placement and Acceleration of Drilling Program at...
About this update from Abrasilver Resource Corp.
[{"type":"text","content":"\n\n\n\n\nAbraPlata Announces Non-Brokered Private Placement and Acceleration of Drilling Program at the Diablillos Silver-Gold Project\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, Oct. 15, 2019\n\n\n\n/NOT FOR DISTRIBUTION IN THE U.S. OR DISSEMINATION THROUGH U.S. NEWSWIRE SERVICES/\n VANCOUVER, Oct. 15, 2019 /CNW/ - AbraPlata Resource Corp. (TSX.V:ABRA; OTCPK: ABBRF) (\"AbraPlata\" or the \"Company\") is pleased to announce that, subject to TSX Venture Exchange approval, it will conduct a non-brokered private placement of units (\"Units\") at a price of CAD$0.06 per Unit (the \"Financing\"). Pursuant to the Financing, the Company is targeting to raise approximately CAD$1,500,000 through the issuance of 25,000,000 Units.\n\n \n \n\n \nEach Unit will consist of one common share in the equity of the Company and one share purchase warrant (each, a \"Warrant\"). Each Warrant entitles the holder to purchase one additional common share in the equity of the Company at a price of CAD$0.10 per share for a period of two years from the closing date of the Financing. \nThe proceeds of the Financing will be used to commence a diamond drill program at the Diablillos silver-gold project and for general working capital purposes. The Company may pay finder's fees in respect to the Financing. Securities issued as a result of the Financing will be subject to a statutory hold period of four months. Closing of the Financing is expected by October 31, 2019.\nRob Bruggeman, Interim CEO of AbraPlata stated, \"The transaction with Aethon is proceeding very well. AbraPlata has been working with Aethon to define a drill program for the Diablillos silver-gold project and proceeds from the financing would allow us to commence that drill program at an earlier date than if we wait for the Aethon transaction to close. Aethon and AbraPlata's geologists have outlined a drill program of approximately 3,000 metres of diamond drilling, in seven or eight holes, that will test extensions of high grade zones under the current resource at the Oculto deposit.\"\nThe securities o...