Alturas Minerals to raise C$10 million from private placement of units

By Laura Lutz

Des Moines, April 27 - Alturas Minerals Corp. plans to conduct a private placement of units for up to C$10 million.

The placement will include units of one share and one warrant with each warrant exercisable for 18 months.

The unit price and warrant exercise price have not been set.

Raymond James Ltd. will act as lead agent with CIBC World Markets as co-agent.

Settlement is expected on May 23.

Proceeds will be used for drilling, exploration and working capital.

Toronto-based Alturas is the parent of Alturas Minerals SA, a mineral exploration company focused on projects in Peru.

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