NOT FOR DISTRIBUTION IN THE U.S. OR DISSEMINATION THROUGH U.S. NEWSWIRE SERVICES
VANCOUVER, British Columbia, July 13, 2018 (GLOBE NEWSWIRE) -- AbraPlata Resource Corp . (TSX.V:ABRA) (OTCPK:ABBRF) (Frankfurt: 1AH ) ("AbraPlata" or the "Company") is pleased to announce that it has closed the final tranche of its non-brokered private placement (the “Private Placement”) of units (each, a “Unit”) at a price of $0.20 per Unit. Each unit consists of one common share of the Company, and one transferrable common share purchase warrant (each, a “Warrant”). Each warrant is exercisable to acquire, one additional common share of the Company at a price of $0.30 per share for a period of three years.
In connection with completion of this final tranche, the Company issued 3,587,202 Units. When combined with the earlier tranche of the Private Placement, the Company has raised gross proceeds of $717,440.40.
In connection with this final tranche of the Private Placement, the Company has paid commissions of $6,514.24 and issued 32,571 non-transferrable share purchase warrants (each, a “Finder's Warrant") to certain persons who have introduced subscribers to the Company. Each Finder’s Warrant is exercisable to acquire an additional common share of the Company at an exercise price of $0.30 per share for a period of three years. All securities issued in connection with the Private Placement are subject to a four-month-and-one-day statutory hold period.
The proceeds of the Financing will be used for exploration activities at the Company's Diablillos property and for general working capital purposes.
The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.
About AbraPlata AbraPlata is a junior mining exploration company focused on delivering shareholder returns by unlocking mineral value in Argentina. The Company's experienced management team has assembled an outstanding portfolio of gold, silver and copper exploration assets, and is focused on advancing its flagship Diablillos silver-gold property, with an Indicated Mineral Resource containing 80.9M oz Ag and 732k oz Au, through the various stages of feasibility. In addition, AbraPlata owns the highly prospective Cerro Amarillo property with its cluster of five mineralized Cu-(Mo-Au) porphyry intrusions located in a mining camp hosting the behemoth El Teniente, Los Bronces, and Los Pelambres porphyry Cu-Mo deposits.
ON BEHALF OF THE BOARD ABRAPLATA RESOURCE CORP. " Willem Fuchter " Willem Fuchter President & Chief Executive Officer
| For further information concerning this news release, please contact: | ||
| Willem Fuchter - President & CEO | Rob Bruggeman - Investor Relations | |
| Tel: +54.11.5258.0920 | Tel: +1.416.884.3556 | |
| E-mail: willem@abraplata.com | Email: rob@abraplata.com | |
This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. All statements that address future plans, activities, events or developments that the Company believes, expects or anticipates will or may occur are forward-looking information. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.
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.
For further information about AbraPlata and its projects, please visit the Company’s website at www.abraplata.com .
