Avrupa Minerals Increases Private Placement to Over $1 Million

Avrupa Minerals Ltd. (TSXV:AVU) announced that it has increased the private placement by $677,000 to $1,077,000, which was necessary to allow certain European investors to participate in a meaningful way and become long term supporters of the company’s exploration programs in Europe. The private placement is fully subscribed and will close shortly.
As quoted in the press release:

With the increase in the financing, the private placement will now consist of 10,770,000 Units at a price of $0.10 per Unit. 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 $0.15 per common share for a 36-month period starting on the closing of this offering. As part of the financing, Avrupa issued Finder’s warrants, entitling the holder to purchase up to 459,000 shares for a period of 12 months from issue at $0.10 per warrant. The securities issued are subject to a four-month hold period.
Avrupa currently has 44,555,797 common shares outstanding which will increase to 55,325,797 common shares upon completion of this increased financing.
The Company currently holds nine exploration licenses in three European countries, including six in Portugal covering 3,821 km2, two (one under application) in Kosovo covering 47 km2, and one in Germany covering 307 km2. Avrupa operates four joint ventures in Portugal and Kosovo, including:

• The Alvalade JV, with Antofagasta, covering one license in the Iberian Pyrite Belt of southern Portugal, for Cu-rich massive sulfide deposits;
• The Covas JV, with Blackheath Resources, covering one license in northern Portugal, for intrusion-related W deposits;
• The Alvito JV, with Lowell Copper, covering one license in the Ossa Morena Zone of south Portugal, for IOCG, polymetallic massive sulfide, and precious metal-bearing epithermal deposits; and
• The Slivovo JV, with Byrnecut International, covering one license in central Kosovo, for gold and base metals related to carbonate-hosted massive sulfide deposits in the Vardar Mineral Trend.

Click here to read the Avrupa Minerals Ltd. (TSXV:AVU) press release
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