AbraPlata Resource Corp. Announces Non-brokered Private Placement
TSX VENTURE: ABRA
VANCOUVER, B.C. / TheNewswire / March 29, 2019, - AbraPlata Resource Corp. (TSX.V:ABRA; OTCPK: ABBRF) ("AbraPlata" or the "Company") announces that, subject to TSX Venture Exchange approval, it will conduct a non-brokered private placement of up to 15,000,000 units at a price of CAD$0.05 per unit (the "Unit") to raise up to aggregate gross proceeds of CAD$750,000 (the "Financing").
Each Unit will consist of one common share in the equity of the Company and one share purchase warrant (the "Warrant"). Each Warrant entitles the holder to purchase one additional common share in the equity of the Company at a price of CAD$0.10 per share for a period of five years from the closing date of the Financing.
The proceeds of the Financing will be used for general working capital purposes. The Company may pay finder's fee to qualified finders in respect to the Financing. Securities issued as a result of the Financing will be subject to a statutory hold period. Closing of the Financing is expected on or around April 15, 2019.
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.
All scientific and technical information in this news release has been approved by Willem Fuchter, PhD PGeo, consultant to and Director of AbraPlata and a qualified person as defined by National Instrument 43-101.
AbraPlata is a junior mining exploration company focused on unlocking mineral value in Argentina. The Company has assembled an outstanding portfolio of gold, silver and copper exploration assets. The Company is focused on exploring and advancing its flagship Diablillos silver-gold property, which has an Indicated Mineral Resource containing 80.9M oz silver and 732k oz gold. In addition, AbraPlata owns the highly prospective Cerro Amarillo property, which hosts a cluster of five mineralized Cu-(Mo-Au) porphyry intrusions and is located in a mining district hosting the behemoth El Teniente, Los Bronces, and Los Pelambres porphyry Cu-Mo deposits.
ON BEHALF OF ABRAPLATA RESOURCE CORP.
For further information concerning this news release, please contact:
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.
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