Non-brokered deal to finance exploration in Portugal, Kosovo, Germany
By Marisa Wong
Madison, Wis., Feb. 27 - Avrupa Minerals Ltd. announced it will raise C$1.2 million through a non-brokered private placement of units.
The company will sell 4 million units at a price of C$0.30 per unit. Each unit is composed of a common share and a non-transferrable warrant. Each warrant entitles the holder to purchase one common share at C$0.50 per share for 24 months. The strike price represents a 40.85% premium to the Feb. 16 closing share price of C$0.355.
Proceeds will be used to advance the mineral exploration on certain of Avrupa's projects in Portugal, Kosovo and Germany.
Avrupa is a Vancouver, B.C.-based mineral exploration and development company.
| Issuer: | Avrupa Minerals Ltd.
|
| Issue: | Units of one common share and one non-transferrable warrant
|
| Amount: | C$1.2 million
|
| Units: | 4 million
|
| Price: | C$0.30
|
| Warrants: | For 4 million shares
|
| Warrant expiration: | 24 months
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Announcement date: | Feb. 27
|
| Stock symbol: | TSX Venture: AVU
|
| Stock price: | C$0.355 at close Feb. 16
|
| Market capitalization: | C$5.72 million
|
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