Aztec Minerals Closes $1.1 Million Private Placement Financing

About this update from Aztec Minerals Corp.

[{"type":"text","content":"Aztec Minerals Closes $1.1 Million Private Placement FinancingVANCOUVER, BC / ACCESSWIRE / February 23, 2023 / Aztec Minerals Corp. (TSXV:AZT)(OTCQB:AZZTF) (\"Aztec\" or the \"Company\") announces that it has closed a CAD$1.1 million non-brokered private placement equity financing. The private placement consisted of 4,378,168 million common shares of the Company (the \"Shares\") priced at CAD$0.25 per Share for gross proceeds of CAD$1,094,542 (the \"Private Placement\"). No warrants were issued, and no finders fees were payable with respect to this Private Placement. The Private Placement included participation by Alamos Gold Inc., sophisticated investors, existing shareholders and a director of Aztec.Alamos Gold Inc. (\"Alamos\") (TSX:AGI, NYSE:AGI) participated in the Private Placement with a subscription for 400,000 Shares, for aggregate consideration of $100,000. Prior to the closing of the Private Placement, Alamos held 7,926,089 common shares and 7,926,089 warrants to purchase common shares of the Company. Since Alamos' last Early Warning Report, Aztec completed an acquisition whereby the Company issued 10,000,000 common shares, dropping Alamos' security holding percentage. Consequently, immediately prior to the closing of the Private Placement, Alamos' security holding was 16.16%, on a partially diluted basis, an overall decrease of 1.84% in its security holdings because of Aztec's issuer event. Following the closing of the Private Placement, Alamos holds 8,326,089 common shares and 7,926,089 warrants to purchase common shares of the Company, for a security holding percentage of 15.86% on a partially diluted basis, a further decrease of 0.30% in its security holding resulting in an overall decrease of more than 2% since its last Early Warning Report. Alamos acquired the common shares for investment purposes, which will be evaluated and may be increased or decreased from time to time at Alamos' discretion. A copy of Alamos' Early Warning Report will be available on the SEDAR website at www.sedar.com or can be requested by contacting Scott K. Parsons, Senior Vice President, Investor Relations, at [email protected], 416-368-9932 (ext. 5439) or by mail at Brookfield Place, 181 Bay Street, Suite 3910, Toronto, Ontario M5J 2T3.Two insiders of the Company subscribed for an aggregate 440,000 Shares under the Private Placeme...

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