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Avrupa Minerals $350,000 Private Placement is Fully Subscribed
(TheNewswire) Vancouver, BC – TheNewswire - August 23, 2024 – A...
About this update from Avrupa Minerals Ltd.
[{"type":"text","content":"Avrupa Minerals $350,000 Private Placement is Fully Subscribed\n\n\n (TheNewswire)\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n Vancouver, BC –\n \n\n TheNewswire -\n \n\n August 23, 2024 –\n \n\n Avrupa Minerals Ltd. (TSXV:AVU)\n(“Avrupa” or the “Company”)\n \n\n is\n \n\n pleased to announce that the $350,000 private placement\nof Units as announced on August 14\n \n\n th\n \n\n , 2024 is fully\nsubscribed and will close shortly. The proceeds of the private\nplacement financing will primarily be used to fund exploration and\ndrilling at the projects in Finland 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” or “TSXV”), the Company intends offer by way\nof a non-brokered private placement offering (the “Offering”) 10\nmillion units (each, a “Unit”) at a price of $0.035.\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\n(“Warrant”). Each Warrant will entitle the holder thereof to\npurchase one additional common share of the Company at a price of\n$0.10 for a period of 36 months from the date of closing of the\nOffering.  Finders' fees of 7.0% in cash will be paid to eligible\nparties.\n \n\n\n\n The proceeds from the issuance of the Units will be\nused by the Company to fund drilling and exploration programs in\nFinland (approximately 130,000 euros/C$197,000), to fund ongoing\noperations in Portugal and Kosovo, and for general corporate purposes.\n None of the proceeds will be utilized for investor relations\nactivities and no-payments will be made to non-arms-length parties of\nthe Company.\n \n\n\n\n Related parties, particularly Pacific Opportunity\nCapital Ltd., controlled by Mark T. Brown who is a director of Avrupa,\nthat has supported the Company for many years, has subscribed for\n$28,000 of the Offering.\n \n\n The issuance of Units\nto the insider, pursuant to the Offering, is considered a related\nparty transaction within the meaning of TSXV Policy 5.9 and\nMultilateral Instrument 61-101 -- Protection of Minority Security\nHolders in Special Transactions. The Company has relied on exemptions\nfrom the formal valuat...