VANCOUVER, British Columbia, Oct. 22, 2018 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (AVU:TSXV) ) (AVPMF:USOTC) (8AM:Frankfurt) is pleased to announce that it will complete a financing of $1.5 million to fund the drilling program at the Alvalade copper-zinc-lead VMS Project in Portugal and for general working capital.
Drill Program at Alvalade
Avrupa recently announced a 2,500 to 3,000-meter drill program to expand currently known mineralized areas and to determine the potential size of the mineralization found to date at its Alvalade VMS Project in Portugal’s Iberian Pyrite Belt. Most of the financing proceeds will be used for this drilling program, and positive results will determine the next steps for the program at Alvalade.
Financing Terms
Avrupa plans to issue 30 million Units at $0.05 per Unit. Each Unit will be comprised of one common share and one common share purchase warrant that will allow the holder to buy an additional share from the closing date for a 36 month period at a price of $0.10 each. Avrupa will have a provision to accelerate the exercise of the warrants if the common shares close at a price of $0.20 or greater for a period of 20 consecutive trading days.
Insiders may be participating in this non-brokered offering, and Avrupa may also pay finder’s fees to qualified finders.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a prospect generator model. The Company holds one 100%-owned, self-funded flagship project, the Alvalade VMS Project. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.
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.