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Avrupa Minerals Ltd.(TSXV:AVU) announced that it will carry out a non-brokered private placement for gross proceeds of $975,000. The funds raised from the placement will be used to fund further exploration at the Company’s Alvalade and Covas projects.
As quoted in the press release:
The financing will consist of 6,500,000 Units at a price of $0.15 per Unit (the “Offering”). Each Unit is comprised of a common share and a non-transferable common share purchase warrant. Each warrant will entitle the holder to purchase one additional common share at a price of $0.25 per common share for a 36-month period, starting on the closing date of this offering.
Avrupa, President and CEO, Paul Kuhn, stated:
Our two JV projects in Portugal are progressing well. Our next focus will be to advance our other prospects in Portugal, Germany and Kosovo to be able to form joint venture partnerships and further advance these programs. Funds will also be used to continue to generate new ideas and prospects in our core areas and elsewhere in Europe.
Click here to read the Avrupa Minerals Ltd. (TSXV:AVU) press release
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