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Aztec Minerals Announces Non-Brokered Private Placement of up to CAD$3.0 Million with Alamos Gold as Strategic Investor
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ...
About this update from Aztec Minerals Corp.
[{"type":"text","content":"Aztec Minerals Announces Non-Brokered Private Placement of up to CAD$3.0 Million with Alamos Gold as Strategic InvestorNOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATESVANCOUVER, BC / ACCESSWIRE / May 16, 2022 / Aztec Minerals Corp. (TSXV:AZT)(OTCQB:AZZTF) (\"Aztec\" or the \"Company\") has arranged a non-brokered private placement to raise proceeds of up to CAD$3.0 million (the \"Offering\" or \"Private Placement\"). As part of the Offering, the Company announces that Alamos Gold Inc. (TSX:AGI; NYSE: AGI) (\"Alamos\") has indicated that it intends to purchase securities under the Offering to obtain a 9.9% interest in the Company upon completion of the Offering.The Company intends to issue up to 10.0 million units at a price of CAD$0.30 per Unit for gross proceeds of up to CAD$3.0 million. Each Unit consists of one common share in the capital of the Company and one warrant exercisable to purchase an additional common share at an exercise price of CAD$0.40 for a two-year period following the closing of the Private Placement.The Company intends to use the net proceeds of the Private Placement to conduct exploration work on its Cervantes Porphyry gold-copper project in Sonora, Mexico and its Tombstone Epithermal gold-silver & CRD silver-lead-zinc-copper-gold project in Arizona, USA, as well as for general working capital purposes.Finders fees may be payable in cash and / or warrants on certain portions of the financing, subject to regulatory approvals. The closing of the Private Placement is subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the \"TSXV\"). The securities issued pursuant to the Private Placement are subject to a four-month hold period under applicable Canadian securities laws and the policies of the TSXV, as applicable, commencing on the closing date of the Private Placement.The securities being offered under the Private Placement have not been, nor will they be registered under the United States Securities Act of 1933, as amended, or state securities laws and may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent U.S. federal and state registration or an applicable exemption from the U.S. registration requirements. This release does not constitute an offer f...