Almaden Closes Non-Brokered Private Placement
August 06 2020 - 4:15PM
Almaden Minerals Ltd. (“Almaden” or “the Company”; AMM:
TSX; AAU: NYSE American) is pleased to announce that it
has closed its previously announced non-brokered private placement
with the issuance of 3,100,000 units (“Units”) at $0.65 per Unit
(the “Offering”).
Each Unit consisted of one common share of the
Company (a “Common Share”) and one non-transferable Common Share
purchase warrant (“Warrant”). Each Warrant allows the holder
to purchase one Common Share at a price of $0.90 until August 6,
2023.
The Offering was made by way of a private
placement to qualified investors in Canada, United States of
America and certain other jurisdictions where the Offering could
lawfully be made. All securities issued and issuable under the
Offering are subject to a four month hold period expiring December
7, 2020 in accordance with applicable securities laws in Canada,
and additional restrictions under the laws of the United States and
other jurisdictions in which the Offering was made.
The Company has agreed to pay finders fees of up
to $52,341.25 in cash to arms-length, licensed securities dealers
on a portion of the Offering. Almaden intends to use the net
proceeds of the Offering to pursue permitting of the Ixtaca
project, and for general corporate purposes.
About Almaden
Almaden Minerals Ltd. owns 100% of the Ixtaca
project in Puebla State, Mexico, subject to a 2.0% NSR royalty held
by Almadex Minerals Ltd. Almaden discovered the Ixtaca gold-silver
deposit in 2010.
On Behalf of the Board of Directors
“Morgan Poliquin”
Morgan J. Poliquin, Ph.D., P.Eng.President,
CEO and DirectorAlmaden Minerals Ltd.
Forward-Looking Information
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 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.
THIS NEWS RELEASE IS A MATTER OF RECORD
ONLY, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED
HEREIN. THE OFFERING IN QUESTION WAS NOT 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.
Contact Information:
Almaden Minerals Ltd. Tel. 604.689.7644 Email:
info@almadenminerals.comhttp://www.almadenminerals.com/
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