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Altiplano Updates Progress on Warrants Exercised, Comments on Operating Results for the Year
Jan. 18, 2018 09:01AM PST
Base Metals Investing Altiplano Minerals Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) (“APN” or the “Company”) is pleased to report that, since commencing Chilean operations in January 2017, three quarters of the share purchase warrants issued in conjunction with financings completed in June of 2016 and February of 2017 (the “Warrants”) have been exercised for proceeds of $3,084,177 leaving 6,021,747 Warrants outstanding and in-the-money, …
Altiplano Minerals Ltd. (TSX-V:APN) (OTCQB:ALTPF) (FWB:9AJ1) (“APN” or the “Company”) is pleased to report that, since commencing Chilean operations in January 2017, three quarters of the share purchase warrants issued in conjunction with financings completed in June of 2016 and February of 2017 (the “Warrants”) have been exercised for proceeds of $3,084,177 leaving 6,021,747 Warrants outstanding and in-the-money, which would represent proceeds of a further $1,059,677 to the Company upon exercise (see Table 1 below) and may eliminate the need to seek additional equity financing in the near term. The Company currently has an estimated working capital of $1.60 million as Management works to complete its initial bulk sample, reflects upon the results of 2017 and charts a course for 2018.
As quoted in the press release:
CEO John Williamson stated, “We are thrilled with progress we have made over the past year in our systematic exploration of the historic Farellon and Maria Luisa Copper-Gold Mines, near La Serena, Chile. Farellon in particular is advancing rapidly from concept to fruition. The success of our programs has not been without challenges as we have worked steadily to improve operating standards and efficiencies at site, ultimately taking over as Operator and reaching agreement to acquire a 100% interest in both projects. This would not have been possible without the extraordinary and continuing support of our shareholders and stakeholders at each step of the way, from recognition of the initial opportunity and equity financings, through to recent deliveries of mineralized material as part of our ongoing bulk sampling program. We look forward to assessing our results to date with the goal of continuing to fast track the delineation of mineralized material, while minimizing dilution, in order to maximize shareholder returns. In 2018 and beyond, we intend to accelerate development of Farellon and follow up preliminary work at Maria Luisa.”
