Avrupa Minerals raises $250,000
November 19 2019 - 9:00AM
Avrupa Minerals Ltd. (AVU:TSXV) (US OTC:AVPMF)
(FRANKFURT:8AM) is pleased to announce that it has
arranged a private placement of
5 million units at 5 cents
each to raise $250,000. Each unit will consist of one
common share and one half of one common share purchase warrant.
Each whole common share purchase warrant will be non-transferable
and will allow the holder to purchase one additional common share
for period of two years for an additional 5 cents.
The proceeds of this offering will be used to
cover costs necessary to complete the recently-announced option
agreement for Avrupa’s Alvalade VMS copper-zinc project in
Portugal, including legal, regulatory and administrative costs, as
well as for review of new project opportunities in Europe.
In order for the upcoming Alvalade option
agreement to be completed, Avrupa will receive a cash payment of
400,000 euros (approximately C$588,000) to Avrupa
which will be used for administrative costs and to advance new
projects.
Paul Kuhn, CEO, noted that “We are excited to
move ahead on the Alvalade Project with our new partner. In
addition, Avrupa is reviewing new opportunities and projects in
Portugal and elsewhere in Europe that we can explore, upgrade, and
potentially option out to new partners.”
Director Resignation
Mr. Ross Stringer, CPA, CA has also stepped down
from the board of Directors to pursue other interests. Mr. Stringer
has been a great asset to the company with sound financial and
management advice, and the Board thanks him for his years of
service to Avrupa’s shareholders. The Board will review a list of
candidates to fill the vacancy left by Mr. Stringer’s
resignation.
Avrupa Minerals Ltd. is a
growth-oriented junior exploration and development company directed
to discovery of mineral deposits, using a hybrid prospect generator
business model. The Company holds one 100%-owned, presently
self-funded, flagship project in Portugal, the Alvalade VMS
Project. Avrupa focuses its project generation work in
politically stable and prospective regions of Europe, including
Portugal and Kosovo, and is presently reviewing new opportunities
elsewhere around the continent.
For additional information, contact Avrupa
Minerals Ltd. at 1-604-687-3520 or visit our website at
www.avrupaminerals.com.
On behalf of the Board,
“Paul W. Kuhn”
Paul W. Kuhn, President & Director
This news release was prepared by Company
management, who take full responsibility for its content.
Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed
Professional Geologist and a Registered Member of the Society of
Mining Engineers, is a Qualified Person as defined by National
Instrument 43-101 of the Canadian Securities Administrators.
He has reviewed the technical disclosure in this release. Mr.
Kuhn, the QP, has not only reviewed, but prepared and supervised
the preparation or approval of the scientific and technical content
in the news release.
Neither 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. Statements in this press release,
other than purely historical information, including statements
relating to the Company’s future plans and objectives or expected
results, may include forward-looking statements.
Forward-looking statements are based on numerous assumptions and
are subject to all of the risks and uncertainties inherent in
resource exploration and development. As a result, actual
results may vary materially from those described in the
forward-looking statements.
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