Business
Avrupa Minerals Announces $1 Million Private Placement and Shares for Debt Settlement
(TheNewswire) Vancouver, BC – TheNewswire - February 8, 2022...
About this update from Avrupa Minerals Ltd.
[{"type":"text","content":"Avrupa Minerals Announces $1 Million Private Placement and Shares for Debt Settlement\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n Vancouver, BC –\n \n \n TheNewswire -\n \n \n February 8, 2022 -\n \n \n Avrupa Minerals Ltd.\n \n \n (TSXV:AVU)\n \n \n (\n \n \n OTC:AVPMF\n \n \n )\n \n \n (“Avrupa” or the “Company”)\n \n \n is\n \n \n pleased to announce\nthat it intends to complete a non-brokered private placement for\n$1,000,000 (the “Offering”) and to settle $285,000 of debt held by\ncertain Insiders of the Company with shares.\n \n \n The\nCompany will use the net proceeds of the Offering to fund the\nacquisition of four projects in Finland (\n \n \n \n \n see news release dated\nDecember 20, 2021\n \n \n \n \n ), exploration\nexpenditures on the Company’s properties, and for working capital.\n \n \n \n \n Private Placement\n \n \n \n \n Subject to the approval of the TSX Venture Exchange\n(the “Exchange”), the Company intends to complete the Offering by\nissuing 13,333,333 units (each, a “Unit”) at a price of $0.075 per\nUnit.\n \n \n \n \n Each Unit will be comprised of one common share in the\ncapital of the Company and one common share purchase warrant (each, a\n“Warrant”). Each Warrant will entitle the holder thereof to\npurchase one additional common share of the Company at an exercise\nprice of $0.125 per common share, for a period of 36 months from the\ndate of closing of the Offering.  Finders' fees of 7.5% in cash and\n7.5% in finder warrants may be paid to eligible parties.\n \n \n \n \n Closing of the Offering is subject to all applicable\nregulatory approvals, including the approval of the Exchange.  All\nsecurities are subject to a hold period of four months and one day in\naccordance with applicable securities laws.\n \n \n \n \n Debt Settlement\n \n \n \n \n The Company intends to settle $285,000 of debt through\na shares-for-debt settlement (the “Debt Settlement”) to two\nInsiders who have deferred salary and fee payments for the past\nseveral years, and funded approximately $56,000 in Company costs with\ncash loans.\n \n \n \n \n The Board of Directors believes it is in the best\ninterest of the Company to settle these debts in order to focus the\nprivate placement funds on other C...