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Altiplano Announces Proposed Debt Financing with Bonus Shares
Altiplano Announces Proposed Debt Financing with Bonus Shares Canada NewsWire ED...
About this update from Altiplano Metals Inc.
[{"type":"text","content":"\n\n\n\nAltiplano Announces Proposed Debt Financing with Bonus Shares\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\nEDMONTON, Nov. 6, 2018\n\n\n\nEDMONTON, Nov. 6, 2018 /CNW/ - Altiplano Metals Inc. (TSXV: APN) (\"Altiplano\" or the \"Company\") has arranged interim bridge loan financing (the \"Loans\") from various insiders and other private investors of the Company to raise a minimum of $100,000 and up to a maximum of $500,000.  \n\n \n \n\n \nUnder the terms of the financing, the Loans will bear interest at 10% per annum and will be repayable by the Company one year after their date of advance (the \"Maturity Date\"). The Company expects to repay the Loans on the Maturity Date from cash flow generated from the Company's operations in Chile, conditional upon a positive production decision being made by the board in 2019. \nAs compensation to the lenders for the risk of repayment of the Loans, Altiplano will issue bonus common shares equal to 20% of the principal amount loaned by each lender at an issue price of $0.175 per share, or up to a maximum of 571,428, if the entire $500,000 is raised. The proceeds of the financing will be used to pay current trade payables of the Company and to fund the completion of the current exploration program, with any surplus to provide general working capital.\nAbout Altiplano\nAltiplano 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.\nON BEHALF OF THE BOARD\n/s/ \"John Williamson\"President and CEO\nNeither 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.\nThi...