7/27/2019 ALT_HR100305 Announces Closing of First Tranche of
Financing
1/2
PRESS RELEASE TSXV, BVL:ALT
Alturas announces closing of first tranche of financing
Toronto, March 5, 2010 Alturas Minerals Corp. (the Company)
(TSX-V, BVL: ALT) today announcedthat it has accepted subscription
forms from the first tranche of a non-brokered financing of
$538,857.43working capital units. Funds raised will be used to
advance exploration of the Company s Chile and Perumineral projects
and for general working capital.
Alturas placed 5,672,182 working capital units of the Company at
a price of $0.095 per unit, for grossproceeds of $538,857.43. Each
unit (a Unit) consisted of one common share of the Company and
oneshare purchase warrant (a Warrant). Each Warrant entitles the
holder to acquire an additional commonshare at $0.12 for a period
of one year following closing and at $0.24 in the second year
followingclosing.
The Company paid finders fees to certain individuals of 7.5% of
funds raised and issued broker warrantsto those individuals
equivalent to 7.5% of the units issued. Each brokers warrant would
enable the holderto acquire common shares at a price of $0.095 per
share for a period two (2) years from Closing.
Securities issued pursuant to the above referenced private
placements are legended and restricted fromtrading until J uly 5,
2010.
Insiders of the Company subscribed for 428,000 Units for gross
proceeds of $40,660. The insider privateplacements are exempt from
the valuation and minority shareholder approval requirements of
MultilateralInstrument 61-101 (MI61-101) by virtue of the
exemptions contain in section 5.5(a) and 5.7(1) (a) of MI61-101 in
that the fair market value of the consideration for the securities
of the Company to be issued toinsiders does not exceed 25% of its
market capitalization.
The Company plans to leave the offering open until March 31
st
and may place up to a further 25,906,765Units for up to a
further $2,461,142.57.
In addition to the offering discussed herein, the Company has
contacted Equinox Minerals Limited todiscuss the possibility of
settling its outstanding debt. These negotiations are ongoing but
the Company istargeting reaching an understanding by the end of the
quarter.
About Alturas Minerals Corp.
Alturas is a Canadian corporation, and is the parent of Alturas
Minerals S.A. (Alturas Peru). AlturasPeru has been actively
exploring various mineral projects in Peru since January 2004.
Alturas propertiesinclude four drill-ready mineral exploration
projects located in central and southern Peru, which includes
the Chapi Chapi-Utupara Copper-Gold Project, the Sombrero
Copper-Gold Project, the CcaccapaquiGold-Silver Project and the
Huajoto Gold-Silver-Zinc Project. In addition, Alturas Peru has
interests infour other exploration projects in Peru. Alturas
exploration strategy is focused on the discovery of large
-
7/27/2019 ALT_HR100305 Announces Closing of First Tranche of
Financing
2/2
epithermal gold mineralized deposits and copper-gold
porphyry/skarn deposits in Peru and Chile. Forfurther information,
please visit the Company's website at www.alturasminerals.com
For further information please contact Alturas at:
Phone: +51-1- 475-1700 (Peru)Email:
[email protected]
Al turas Minerals Corp.
Suite 3100, Scotia Plaza, 40 King St. W., Toronto, ON Canada M5H
3Y2
and
Manuel de Falla 297, Floor 5th, San Borja, Lima 41, Peru
Should you wish to receive Company news via email, please email
[email protected] and specify
Alturas News in the subject line
The TSX Venture Exchange does not accept responsibility for the
adequacy or accuracy of this release.
Cautionary Language and Forward Looking StatementsThis press
release may contain forward-looking statements, which are subject
to various risks and uncertainties that could cause actual
results
and future events to differ materially from those expressed or
implied by such statements. Investors are cautioned that such
statements are not
guarantees of future performance and results. Risks and
uncertainties about the Companys business are more fully discussed
in the Companys
disclosure documents filed from time to time with the Canadian
securities authorities
-
http://www.alturasminerals.com/mailto:[email protected]:[email protected]:[email protected]:[email protected]://www.alturasminerals.com/
