Business
Avrupa Minerals Arranges $500,000 Private Placement
VANCOUVER, British Columbia, March 07, 2018 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (TSXV:AVU) (OTC:AVPMF) (FRANKFURT:8AM) is pleased to announce that it has a
About this update from Avrupa Minerals Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, March 07, 2018 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (TSXV:AVU) (OTC:AVPMF) (FRANKFURT:8AM) is pleased to announce that it has arranged a financing to raise $500,000 by way of a private placement of 6.25 million units at $0.08 per unit. Each unit (a “Unit) is comprised of one common share and common share purchase warrant which entitles the holder to purchase one common share at a price of $0.12 for a period of two years from closing of the offering. The proceeds of the offering will be used for exploration and operations in Portugal, Kosovo, and Vancouver, and for general working capital. Some of the proceeds may also be used for due diligence reviews of potential acquisitions. Paul Kuhn, President and CEO, commented, “With the upcoming option arrangements with a new partner on our three Pyrite Belt properties in Portugal, this small financing will allow us to continue work on other properties in Portugal and Kosovo, as well as generate some new possibilities in the region.” Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator model, of valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany. The Company currently holds eight exploration licenses in three European countries, including five in Portugal covering 2,911 km2, two in Kosovo covering 47 km2, and one in Germany covering 307 km2. Avrupa now has three active option and joint venture agreements, two in Portugal and one in Kosovo, including: The Alvito Option Agreement with OZ Minerals Limited covering one license in the Ossa Morena Zone in southern Portugal, for IOCG deposits; The Covas JV, with Blackheath Resources, covering one license in northern Portugal, for intrusion-related W deposits; and Avrupa’s partner at the Slivovo Gold Project in Kosovo is fully funding the program, allowing Avrupa to dilute its ownership in the JV operating company Peshter Mining JSC. If AVU ownership goes below 10%, the interest in the project converts to a 2% NSR. For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com. On behalf of the Board, “Paul W. Kuhn” &...