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Avrupa Closes $1.2 Million Financing
March 28, 2012
Avrupa Minerals Ltd. (AVU:TSXV) is pleased to report that the financing announced on February 27, 2012 has been closed.
Avrupa issued 4 million units (a “Unit”) at $0.30 per Unit for gross proceeds of $1.2 million. Each Unit is comprised of one common share and one non-transferable common share purchase warrant. Each warrant entitles the holder to purchase one additional common share for a period of 24 months that expires on March 28, 2014 at a price of $0.50 per common share.
Finder’s warrants, entitling the holders to purchase up to 183,913 Units for a period of 24 months from issue at $0.30 per Unit, were issued. A cash finder’s fee of $55,174 was paid. The securities issued are subject to a four-month hold period that expires on July 28, 2012. Insiders participated in the offering for a total of 303,667 Units.
The funds will advance Avrupa’s exploration projects in Portugal, Kosovo and Germany. These projects will either be upgraded to JV-ready status for potential partnerships or dropped if nothing significant is discovered. Avrupa’s goal, as a Prospect Generator, is to retain a portion of each project, while having larger, mining-capable partners contribute substantial exploration funding for the advancement and development of the projects.
Avrupa is exploring in regions of these three countries that have had thousand-year or longer mining histories. Avrupa is applying modern exploration techniques and new ideas to generate prospects with strong potential for discovery of significant mineral deposits.
Avrupa now has 20,103,571 common shares outstanding, upon completion of the financing.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company focused on aggressive exploration, using a prospect generator model, for valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.
The Company has an exciting portfolio of exploration projects consisting of:
- Copper and Zinc in southern Portugal at Marateca and in the Alvalade JV project area located in the Iberian Pyrite Belt, where Europe’s richest active copper mine presently operates;
- Tungsten and Gold in northern Portugal at the Covas JV project area;
- Precious metal and REE potential in the new Aljezur project area, south Portugal;
- Silver, Lead and Zinc in Kosovo at the Glavej, Kamenica, Selac, and Bajgora properties in the Trepça Mineral Belt of the Vardar Zone, historically, Europe’s most productive district for lead and zinc;
- Copper and Gold in southern Kosovo within the Koritnik exploration license area in the Sharr-Dragash intrusive complex;
- Gold in eastern Germany in the 307 km2 Oelsnitz exploration license in the historic Erzgebirge Mining District, a 1000-year producer of tin, tungsten, silver, base metals, and uranium.
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 in the State of Washington, USA, 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.
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.