AVPMF - Avrupa Minerals Announces Private Placement Over-subscribed
(TheNewswire)
Vancouver, BC – TheNewswire - February 23, 2022 - Avrupa Minerals Ltd.(TSXV:AVU) (OTC:AVPMF)(FRANKFURT:8AM) (“Avrupa”or the “Company”) is pleased to report that the financing announced on February 8,2022 is over-subscribed and increased to $1,250,000. The Company willuse the net proceeds of the Offering to fund the acquisition of fourprojects 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 now intends to complete the Offeringby issuing 16,666,667 units (each, a “Unit”) at a price of $0.075per Unit.
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. Eachfinder’s warrant is exercisable into one common share at $0.075 fora period of 18 months.
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 Debt Settlement has also been approved by the TSXVenture Exchange and will be completed shortly.
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 focusesits project generation work in politically stable and prospectiveregions of Europe, presently including Portugal and Kosovo. TheCompany continues to seek and develop other opportunities aroundEurope and is in the process of acquiring certain prospective mineralprojects 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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