APN: TSXV
ALTPF: OTCQB
9AJ1: FWB
EDMONTON, Dec. 11, 2017 /CNW/ - Altiplano Minerals
Ltd. (TSXV: APN) ("APN" or the "Company"): APN
today announces that the Company has entered into a binding letter
of intent (the "LOI") with Comet Exploration Ltd.
("Comet") in respect of acquiring all of Comet's remaining
50% interest in their Chilean joint venture (the "CJV") for
two copper and gold projects called the Farellon and Maria Luisa projects, which are located near the
town of La Serena, Republic of
Chile (collectively, the "Projects"). The LOI
results in APN acquiring a 100% undivided interest in the Projects.
Moving forward, APN will be the operator of the Projects, and the
CJV is effectively terminated.
APN's CEO John Williamson
commented, "The underpinnings of this transaction are the possible
near-term production and cash-flow potential of our workings below
the historic Farellon Mine; the medium-term potential of the
historic Maria Luisa Mine project
once we decipher its complex geology; and the longer-term potential
of applying our expertise and experience to identify and capitalize
on new mining opportunities in Chile. We would like to thank Comet for their
clear vote of confidence, entrusting us to advance their flagship
projects in a professional and entrepreneurial manner. We
look forward to exceeding expectations."
Pursuant to the LOI, the Company must issue to Comet 7.5 million
common shares at a deemed value of $0.20 per share, and pay A$50,000 to Comet within the next 90 days, in
consideration of Comet's issuance to APN of common shares of Comet
at a price of A$0.10 per share or
lower, on the sale terms as will be offered to arm's length third
parties. In addition, Comet will retain a 10% net profits
interest in the Projects, until Comet has been paid C$1.5 million.
The LOI is subject to certain conditions, including the
acceptance of the TSX Venture Exchange.
Altiplano will host a live shareholder update conference call on
Friday, December 15, 2017, at
1:15 p.m. PST. Callers should
dial in five to ten minutes prior to the scheduled start time.
Accessing the conference call by phone will depend on your
region as follows: within Canada
and the United States dial
1-866-512-0904 and enter passcode 4156999; within Germany dial 0800-589-4596 and enter passcode
4156999; and within Austria dial
0800-297228 and enter passcode 4156999. For other regions,
please contact Jeremy Yaseniuk at
the details below prior to the start time.
About Altiplano
Altiplano Minerals Ltd. (APN: TSX‐V) is a
mineral exploration company focused on evaluating and acquiring
projects with significant potential for advancement from discovery
through to production. Management has a substantial record of
success, in Canada and abroad,
capitalizing on opportunities, overcoming challenges and building
shareholder value. Additional information concerning
Altiplano can be found on its website at
www.altiplanominerals.com.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
President and CEO
Tel: (780) 437-6624
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the (TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This release includes certain statements that may be deemed
"forward-looking statements". All statements in this release, other
than statements of historical facts, that address exploration
drilling, exploitation activities and events or developments that
the Company expects are forward-looking statements. Although the
Company believes the expectations expressed in such forward-looking
statements are based on reasonable assumptions, such statements are
not guarantees of future performance and actual results or
developments may differ materially from those in the
forward-looking statements. Factors that could cause actual results
to differ materially from those in forward-looking statements
include market prices, exploitation and exploration successes,
continuity of mineralization, uncertainties related to the ability
to obtain necessary permits, licenses and title and delays due to
third party opposition, changes in government policies regarding
mining and natural resource exploration and exploitation, and
continued availability of capital and financing, and general
economic, market or business conditions. Investors are cautioned
that any such statements are not guarantees of future performance
and actual results or developments may differ materially from those
projected in the forward-looking statements. For more information
on the Company, investors should review the Company's continuous
disclosure filings that are available at
www.sedar.com.
SOURCE Altiplano Minerals