(TheNewswire)
Vancouver, BC - TheNewswire - February 13, 2023 - Alianza Minerals Ltd. (“Alianza”) (TSX-V:ANZ ) ( OTC:TARSF) ispleased to announce that further to the Company's newsrelease dated February 8, 2023, the Company has received the approvalfrom the TSX Venture Exchange (the “Exchange”) to amend theexercise price of 19,100,000 share purchase warrants(" Warrants ")which expire on February 25, 2023 from $0.10 to $0.05 (the"Warrant Amendments").
Also, further to the Company's news release of the samedate, the Company will now proceed with the warrant exercise incentiveprogram, (the " IncentiveProgram ") designed to encourage the earlyexercise of the Warrants.
Under the Incentive Program, the Company is offering an inducement toeach Warrant holder that exercises their Warrants on or before March15, 2023 (the "Early Exercise Period"), by the issuance ofone additional common share purchase warrant (an "IncentiveWarrant") for each Warrant exercised early. Each IncentiveWarrant will entitle the holder to purchase one additional commonshare for a period of 24 months from the date of issuance of suchIncentive Warrant, at a price of $0.10. The Incentive Warrants will besubject to a four-month hold period from the date of issuance. The Incentive Program will expire on March 15, 2023 at 4:00p.m. (Vancouver time) (the " Early ExerciseExpiry Date ")
If all of the Warrants are exercised during the EarlyExercise Period, the Company expects to:
-
Receive gross proceeds up to $955,000 on or before theEarly Exercise Expiry Date;
-
Issue up to 19,100,000 common shares pursuant to theexercise of the Warrants by holders in accordance with the originalterms of the Warrants; and
-
Issue up to 19,100,000 Incentive Warrants to Warrantholders pursuant to the early exercise of the Warrants on or beforethe Early Exercise Expiry Date.
The terms and conditions of the Incentive Program andthe method of exercising Warrants pursuant to the Incentive Programare set forth in a letter which is being delivered to the registerede-mail address of each Warrant holder, posted on SEDAR and isavailable on the Company's website at https://alianzaminerals.com/ .
Holders of Warrants who elect to participate in theIncentive Program will be required to deliver the following to theCompany on or prior to 4:00 p.m. (Vancouver time) on March 15,2023:
-
a duly completed and executed Exercise Form, in theform which accompanies the certificate representing theWarrants;
-
the original certificate representing the Warrantsbeing exercised;
-
a completed Accredited Investor Form confirming theWarrant holder’s status as an Accredited Investor; and
-
the applicable aggregate exercise price payable to theCompany by way of certified cheque, money order, bank draft, or wiretransfer in lawful money of Canada.
To the extent that holders of the Warrants takeadvantage of the opportunity to exercise their Warrants early, thiswill strengthen the Company's current cash position and provide theCompany with additional working capital to meet its on-going businessobligations.
The transaction is subject to the receipt of all finalregulatory approvals, including the approval of the Exchange. AnyWarrants that are not exercised prior to the Early Exercise ExpiryDate will expire.
The Warrants were originally issued by the Company aspart of a unit the Company issued in connection with a privateplacement financing completed on February 25, 2020. The underlyingcommon shares and common shares to be issued pursuant to the exerciseof the Warrants have not been, and will not be, registered under theU.S. Securities Act or any U.S. state securities laws, and may not beoffered or sold in the United States or to, or for the account orbenefit of, United States persons absent registration or anyapplicable exemption from the registration requirements of the U.S.Securities Act and applicable U.S. state securities laws. This pressrelease does not constitute an offer to sell or the solicitation of anoffer to buy securities in the United States, nor in any otherjurisdiction.
About Alianza Minerals Ltd.
Alianza employs a discovery-focused business model of joint venturefunding and self-funded projects to maximize opportunity forexploration success. The Company’s primary asset is the Haldanesilver project and also currently has gold, silver and base metalprojects in Yukon Territory, Colorado, Nevada and Peru. Alianza hasone project (Tim, Yukon Territory) optioned out to Coeur Mining, Inc.and one optioned to Allied Copper within an alliance with CloudbreakDiscovery PLC. Alianza is actively seeking partners on other projects.Alianza also holds certain royalties on projects in North and SouthAmerica.
Alianza is listed on the TSX Venture Exchange under the symbol“ANZ” and trades on the OTCQB market in the US under the symbol“TARSF”.
Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. isa Qualified Person as defined by National Instrument 43-101. Mr. Webersupervised the preparation of the technical information contained inthis release.
For further information,contact:
Jason Weber, President and CEO
Sandrine Lam, Shareholder Communications
Tel: (604) 807-7217
Fax: (888) 889-4874
To learn more visit: www.alianzaminerals.com
Twitter:
LinkedIn:
NEITHER THE TSX VENTURE EXCHANGE NOR ITS REGULATIONSERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSXVENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACYOF THIS RELEASE. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELYHISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY'SFUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDEFORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ONNUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS ANDUNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS ARESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THEFORWARD-LOOKING STATEMENTS.
Copyright (c) 2023 TheNewswire - All rights reserved.