Edmonton, Alberta--(Newsfile Corp. - November 12, 2020) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") announced today that it has elected to exercise its right under the terms and conditions (the "Warrant Terms") of the common share purchase warrants of the Company issued on February 18, 2020 and March 19, 2020 (the "Warrants") to accelerate the expiry date of the Warrants.
Pursuant to the Warrant Terms, Altiplano may accelerate the expiry of these Warrants at any time prior to their expiry, in the event the closing price of the common shares of the Company on the TSX Venture Exchange exceeds $0.20 for twenty (20) consecutive trading days by providing written notice to the warrant holders. The Warrants will, unless exercised, expire on the 30th day after the Company provides notice.
As of the close of markets on November 11, 2020, the share price of Altiplano has traded in excess of $0.20 for over twenty (20) consecutive days. Accordingly, the expiry date for the Warrants is accelerated to December 12, 2020.
As of November 12, 2020, a total of 4,252,164 Warrants have yet to be exercised. Each Warrant is exercisable to acquire one common share at an exercise price of $0.10. If all Warrants are exercised, proceeds to the Company will total $425,216.
Altiplano Metals Inc. (TSXV: APN) is a Canadian mining company focused on developing and acquiring near term cash flowing assets and exploring for projects of significant scale. Altiplano's goal is to grow into a mid-tier mining company through developing a portfolio of near-term production projects, cash flowing assets, and exploration projects focusing on copper, gold and silver. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value.
Altiplano is part of the Metals Group portfolio of companies. Metals Group is an award-winning team of professionals who stand for technical excellence, painstaking project selection, uncompromising corporate governance and a unique ability to discover and develop opportunities.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
For further information, please contact:
Jeremy Yaseniuk, Director
Tel: (604) 773-1467
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the (TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating the historical estimates as current mineral resources or mineral reserves. The Farellon mine was previously in production dating back to the 1970's with a reported historical production (to a depth of 70 m) yielding approximately 300,000 tonnes at an average grade of 2.5% copper and 0.5g/t gold. This material was processed locally and sold to ENAMI. Altiplano is relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization to reactivate production. The decision to commence production on the Farellon deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any production decision. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.
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