AVPMF - Avrupa Minerals Announces $1 Million Private Placement and Shares for Debt Settlement
(TheNewswire)
Vancouver, BC – TheNewswire - February 8, 2022 - Avrupa Minerals Ltd. (TSXV:AVU) ( OTC:AVPMF ) (“Avrupa” or the “Company”) is pleased to announcethat it intends to complete a non-brokered private placement for$1,000,000 (the “Offering”) and to settle $285,000 of debt held bycertain Insiders of the Company with shares. TheCompany will use the net proceeds of the Offering to fund theacquisition of four projects in Finland ( see news release datedDecember 20, 2021 ), explorationexpenditures on the Company’s properties, and for working capital.
Private Placement
Subject to the approval of the TSX Venture Exchange(the “Exchange”), the Company intends to complete the Offering byissuing 13,333,333 units (each, a “Unit”) at a price of $0.075 perUnit.
Each Unit will be comprised of one common share in thecapital of the Company and one common share purchase warrant (each, a“Warrant”). Each Warrant will entitle the holder thereof topurchase one additional common share of the Company at an exerciseprice of $0.125 per common share, for a period of 36 months from thedate of closing of the Offering. Finders' fees of 7.5% in cash and7.5% in finder warrants may be paid to eligible parties.
Closing of the Offering is subject to all applicableregulatory approvals, including the approval of the Exchange. Allsecurities are subject to a hold period of four months and one day inaccordance with applicable securities laws.
Debt Settlement
The Company intends to settle $285,000 of debt througha shares-for-debt settlement (the “Debt Settlement”) to twoInsiders who have deferred salary and fee payments for the pastseveral years, and funded approximately $56,000 in Company costs withcash loans.
The Board of Directors believes it is in the bestinterest of the Company to settle these debts in order to focus theprivate placement funds on other Company costs. Remaining amounts ofdebts to Insiders will be settled in cash at a later date.
Under the terms of the Debt Settlement the Companyproposes to issue 3,800,000 common shares at a deemed price of $0.075per share, the same price of each Unit being sold in the Offering. However, the Debt Settlement shares will not have any warrantsattached. All shares issued pursuant to the Debt Settlement will besubject to a hold period of four months and one day in accordance withapplicable securities laws.
As with the private placement, the debt settlement issubject to the approval of the Exchange.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and developmentcompany directed to discovery of mineral deposits, using a hybridprospect generator business model. The Company holds one 100%-ownedlicense in Portugal, the Alvalade VMS Project, now optioned toSandfire MATSA in an earn-in joint venture agreement. Avrupa focuses its project generation work inpolitically stable and prospective regions of Europe, presentlyincluding Portugal and Kosovo. The Company continues to seek anddevelop other opportunities around Europe and is in the process ofacquiring certain prospective mineral projects in Finland.
For additional information, contact Avrupa Minerals Ltd. at1-604-687-3520 or visit our website at www.avrupaminerals.com .
On behalf of the Board,
Paul W. Kuhn, President & Director
This news release was prepared byCompany management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a LicensedProfessional Geologist and a Registered Member of the Society ofMining Engineers, is a Qualified Person as defined by NationalInstrument 43-101 of the Canadian Securities Administrators. He hasreviewed the technical disclosure in this release. Mr. Kuhn, the QP,has not only reviewed, but prepared and supervised the preparation orapproval of the scientific and technical content in the news release.
Neither the TSX Venture Exchange norits Regulation Services Provider (as that term is defined in thepolicies of the TSX Venture Exchange) accepts responsibility for theadequacy or accuracy of this release.
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