AVPMF - Avrupa Minerals Closes $1.25 Million Private Placement
(TheNewswire)
Vancouver, B.C. - TheNewswire –March 2, 2022 - AvrupaMinerals Ltd. (TSXV:AVU) (OTC:AVPMF) (Frankfurt:8AM) (“Avrupa” or the “Company”) is pleased to report that the financing announced onFebruary 8, 2022 and increased on February 23, 2022 has now beenclosed.
The Company raised a total of $1,250,000 from theissuance of the 16,666,667 units to fund theacquisition of four projects in Finland ( see news release datedDecember 20, 2021 ), explorationexpenditures on the Company’s properties, and for working capital.
Paul W. Kuhn, President and CEO of Avrupa Minerals,commented, “We will now close the acquisition of the new Finlandprojects and then begin work to advance the projects through theexploration licensing process, with the goal of selecting the bestareas in each of the reservations for license application. We alsoexpect to acquire and compile existing historic data, and continuewith new project exploration work and starting the drill targetingprocess.”
Each unit is comprised of one common share and onecommon share purchase warrant at $0.075 per unit. The warrant is validfor three years expiring February 28, 2025 and is exercisable at$0.125 to acquire one common share.
Finder’s fees of 7.5% in cash and 7.5% in finder’swarrants were paid to eligible parties. Each finder’s warrant isexercisable into one common share at an exercise price of $0.075 untilAugust 28, 2023. All securities are subject to a four-month holdexpiring on June 29, 2021.
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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