Business
Aztec Minerals Arranges CAD$430,000 Private Placement Financing
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 Arranges CAD$430,000 Private Placement FinancingNot for Distribution to U.S. Newswire Services or for Dissemination in the United StatesVANCOUVER, BC / ACCESSWIRE / February 21, 2020 / Aztec Minerals Corp. (TSXV: AZT)(OTCQB:AZZTF) has arranged a CAD$430,000 non-brokered private placement financing with sophisticated investors, shareholders and directors of the Company. No finders fees are payable with respect to this financing.The Company has agreed to issue 8.6 million units at a price of CAD$0.05 per Unit for gross proceeds of CAD$430,000. Each Unit consists of one common share in the capital of the Company and one-half (1/2) warrant with each full warrant exercisable to purchase an additional common share at an exercise price of CAD$0.10 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 Tombstone CRD silver-gold-lead-zinc-copper project in Arizona, complete the joint venture agreement for the Cervantes Porphyry gold-copper project in Mexico, and for general working capital purposes.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 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 for sale of securities in the United States.\"Joey Wilkins\"Joey Wilkins, Chief Executive OfficerAztec Minerals Corp.About Aztec Minerals - Aztec is a mineral exploration company focused on the discovery of large mineral deposits in the Americas. Our core assets include the prospective, district scale Cervantes porphyry gold-copper property in Sonora, Mexico, and the Tombstone CRD silver-gold-lead-zinc-copper district in ...