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Avrupa Minerals Ltd. (TSXV:AVU) closed the strategic financing with Callinan Royalties Corporation for gross proceeds of $350,000. The Company issued 3,500,000 units at $0.10 a unit.
As quoted in the press release:
Each warrant entitles the holder to purchase one additional common share for a 36-month period, expiring October 15, 2016, at a price of $0.15 per common share.
The common shares acquired by Callinan represent approximately 9.06% of the currently issued and outstanding common shares of the Company, on an undiluted basis and without giving effect to the exercise of the warrants. If the warrants are exercised, Callinan will acquire an additional 3,500,000 common shares and will then hold 7,000,000 common shares, representing 16.65% of the issued and outstanding common shares of the Company, on an undiluted basis and after giving effect to the exercise of the warrants.
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