Avrupa Minerals Ltd. (TSXV:AVU) (“Avrupa” or the “Company”) is pleased to report that the financing announced on February 8, 2022 and increased on February 23, 2022 has now been closed.
The Company raised a total of $1,250,000 from the issuance of the 16,666,667 units to fund the acquisition of four projects in Finland (see news release dated December 20, 2021), exploration expenditures on the Company’s properties, and for working capital.
Paul W. Kuhn, President and CEO of Avrupa Minerals, commented, “We are pleased with the continued strong support from our shareholders and from our new investors. With the funding, we expect to advance our new projects in Finland through the exploration licensing process, with the goal of selecting the best areas in each of the reservations for license application. We also expect to acquire and compile existing historic data, and continue with new project exploration work and starting the drill targeting process. We are also excited about the continuation of fully partner-funded drilling and exploration at Sesmarias and the rest of the Alvalade Project, and await guidance from our partner as to how the program will proceed. In addition, Avrupa continues to review further precious and base metal opportunities around Europe.”
Each unit is comprised of one common share and one common share purchase warrant at $0.075 per unit. The warrant is valid for three years expiring February 28, 2025 and is exercisable at $0.125 to acquire one common share.
Finder’s fees of 7.5% in cash and 7.5% in finder’s warrants were paid to eligible parties. Each finder’s warrant is exercisable into one common share at an exercise price of $0.075 until August 28, 2023. All securities are subject to a four-month hold expiring on June 29, 2021.
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 license in Portugal, the Alvalade VMS Project, now optioned to Sandfire MATSA in an earn-in joint venture agreement. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, presently including Portugal and Kosovo. The Company continues to seek and develop other opportunities around Europe and is in the process of acquiring certain prospective mineral projects in Finland.
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 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.