Business
Avrupa Minerals Announces Private Placement and Proposed Share Consolidation
(TheNewswire) Vancouver, B.C. - TheNewswire - October 9...
About this update from Avrupa Minerals Ltd.
[{"type":"text","content":"Avrupa Minerals Announces Private Placement and Proposed Share Consolidation\n \n \n (TheNewswire)\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Vancouver, B.C. -\n \n \n TheNewswire\n-\n \n \n October 9, 2020 -\n \n \n Avrupa Minerals Ltd. (TSXV:AVU)\n \n \n (OTC:AVPMF)\n \n \n is\n \n \n pleased to announce that it intends\nto complete a $500,000 private placement and a four (4) to one (1)\nshare consolidation.\n \n \n \n \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 proceed to a\nnon-brokered private placement offering (the \"Offering\") for\naggregate gross proceeds of a maximum of $500,000. The Offering will\nbe comprised of up to 16,666,666 units (each, a \"Unit\") at a\nprice of $0.03 on a pre-consolidation basis.\n \n \n \n \n The pricing of the Offering is in reliance of the\nTemporary Relief Measures of the $0.05 Minimum Pricing Requirement\n(the \"Temporary Relief Measures\") established by the\nExchange on April 8, 2020. In response to the COVID-19 pandemic, the\nExchange published the Temporary Relief Measures, lowering the minimum\nprice from $0.05 to $0.01 per share for shares issued pursuant to a\nprivate placement, where the market price of an issuer's shares is not\ngreater than $0.05. The Company will seek to utilize such Temporary\nRelief Measures.\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 $0.05 per common share on a pre-consolidation basis, for a\nperiod of 36 months from the date of closing of the Offering. \nFinders' fees of 7% in cash and 7% in finder warrants will be paid to\neligible parties.\n \n \n \n \n The proceeds from the issuance of the Units will be\nused by the Company to provide working capital for exploration\nprograms in Portugal, Kosovo, potential new acquisitions, and for\ngeneral corporate purposes.\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...