Almaden Announces Proposed Non-Brokered Private Placement
July 23 2020 - 9:00AM
Almaden Minerals Ltd. (“Almaden” or “the Company”; AMM:
TSX; AAU: NYSE American) is pleased to announce a proposed
non-brokered private placement financing (the
"
Offering") of 3,100,000 units, (the
“
Units”) at a price of $0.65 per Unit.
Each Unit will consist of one common share of
the Company and one non-transferable common share purchase warrant,
each whole share purchase warrant (a "Warrant")
entitling the holder to purchase one common share of the Company at
a price of $0.90 per share for 3 years following the closing of the
Offering.
Almaden intends to use the net proceeds of the
Offering for permitting activities relating to the Ixtaca project,
and for general corporate purposes.
The Company may pay finders’ fees in connection
with the Offering in cash, shares, warrants or combinations
thereof.
Closing of the Offering is anticipated to be on
or about August 13, 2020 (the “Closing Date”) and
is subject to receipt of applicable regulatory approvals including
approval of the TSX and NYSE American exchanges. The securities
issued will be subject to a standard four month hold period in
Canada.
About AlmadenAlmaden Minerals
Ltd. owns 100% of the Ixtaca project in Puebla State, Mexico,
subject to a 2.0% NSR royalty held by Almadex Minerals Ltd. The
Ixtaca Gold-Silver Deposit was discovered by Almaden in 2010.
On Behalf of the Board of Directors
“Duane
Poliquin”
J. Duane PoliquinChairmanAlmaden Minerals Ltd.
THIS NEWS RELEASE, PROVIDED PURSUANT TO
APPLICABLE CANADIAN REQUIREMENTS, IS NOT FOR DISTRIBUTION TO UNITED
STATES NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND
DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN.
THE OFFERING IN QUESTION HAS NOT BEEN REGISTERED UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES
LAWS, AND THE SECURITIES SOLD IN SUCH OFFERING MAY NOT BE OFFERED
OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS ABSENT REGISTRATION
OR APPLICABLE EXEMPTION FROM REGISTRATION
REQUIREMENTS.
Forward Looking Statements
Certain of the statements and information in
this news release constitute “forward-looking statements” within
the meaning of the United States Private Securities Litigation
Reform Act of 1995 and “forward-looking information” within the
meaning of applicable Canadian provincial securities laws. All
statements, other than statements of historical fact, are
forward-looking statements or information. Forward-looking
statements or information in this news release relate to, among
other things: the proposed Offering, the composition of the Units,
and the intended use of net proceeds of the Offering.
These forward-looking statements and information
reflect the Company’s current views with respect to future events
and are necessarily based upon a number of assumptions. These
assumptions include: stability and predictability in Mexico’s
mineral tenure, mining, environmental and agrarian laws and
regulations, as well as their application and judicial decisions
thereon; continued respect for the rule of law in Mexico; prices
for gold, silver and base metals remaining as estimated; currency
exchange rates remaining as estimated; availability of funds;
capital, decommissioning and reclamation estimates; mineral reserve
and resource estimates; prices for energy inputs, labour,
materials, supplies and services (including transportation); no
labour-related disruptions; all necessary permits, licenses and
regulatory approvals being received in a timely manner; the ability
to secure and maintain title and ownership to properties and the
surface rights necessary for operations; community support in the
Ixtaca Project; and the ability to comply with environmental,
health and safety laws. The foregoing list of assumptions is not
exhaustive.
The Company cautions the reader that
forward-looking statements and information involve known and
unknown risks, uncertainties and other factors that may cause
actual results and developments to differ materially from those
expressed or implied by such forward-looking statements or
information contained in this news release. Such risks
and other factors include, among others, risks related to:
political risk in Mexico; crime and violence in Mexico; corruption;
environmental risks, including environmental matters under Mexican
laws and regulations; impact of environmental impact assessment
requirements on the Company’s planned exploration and development
activities on the Ixtaca Project; certainty of mineral title and
the outcome of litigation; community relations; governmental
regulations and the ability to obtain necessary licences and
permits; risks related to mineral properties being subject to prior
unregistered agreements, transfers or claims and other defects in
title; changes in mining, environmental or agrarian laws and
regulations and changes in the application of standards pursuant to
existing laws and regulations which may increase costs of doing
business and restrict operations; as well as those factors
discussed the section entitled "Risk Factors" in Almaden's Annual
Information Form and Almaden's latest Form 20-F on file with the
United States Securities and Exchange Commission in Washington,
D.C. Although the Company has attempted to identify important
factors that could affect the Company and may cause actual actions,
events or results to differ materially from those described in
forward-looking statements or information, there may be other
factors that cause actions, events or results not to be as
anticipated, estimated or intended. There can be no assurance that
the Company’s forward-looking statements or information will prove
to be accurate. Accordingly, readers should not place undue
reliance on forward-looking statements or information. Except as
required by law, the Company does not assume any obligation to
release publicly any revisions to forward-looking statements or
information contained in this news release to reflect events or
circumstances after the date hereof or to reflect the occurrence of
unanticipated events.
Contact Information:
Almaden Minerals Ltd. Tel. 604.689.7644 Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
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