VANCOUVER, British Columbia, Feb. 25, 2019 (GLOBE NEWSWIRE) -- Avrupa Minerals Ltd. (AVU:TSXV) is pleased to announce that it has closed the final tranche of its private placement of $100,000 comprised of 2,000,000 units. A total of $832,000 of the private placement has now been closed and this offering is now closed.
The funds are being spent on the exploration program in progress at the Alvalade project in the Iberian Pyrite Belt of southern Portugal where Avrupa just completed a drilling program as reported on February 11, 2019.
Assays from the drilling program will be announced shortly.
Each Unit is comprised of one common share and one common share purchase warrant that allows the holder to buy an additional share until February 25, 2022 at a price of $0.10 each. The securities have a four-month hold period expiring on June 25, 2019. Avrupa has a provision to accelerate the exercise of the warrants if the common shares close at a price of $0.20 or greater for a period of 20 consecutive trading days. Insiders participated in this final tranche for $6,500.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company directed to discovery of mineral deposits, using a prospect generator model. The Company holds one 100%-owned, self-funded flagship project, the Alvalade VMS Project. Avrupa focuses its project generation work in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.
For additional information, contact Avrupa Minerals Ltd. at 1-604-687-3520 or visit our website at www.avrupaminerals.com.
On behalf of the Board,
“Paul W. Kuhn”
Paul W. Kuhn, President & Director
This news release was prepared by Company management, who take full responsibility for its content. Paul W. Kuhn, President and CEO of Avrupa Minerals, a Licensed Professional Geologist and a Registered Member of the Society of Mining Engineers, is a Qualified Person as defined by National Instrument 43-101 of the Canadian Securities Administrators. He has reviewed the technical disclosure in this release. Mr. Kuhn, the QP, has not only reviewed, but prepared and supervised the preparation or approval of the scientific and technical content in the news release.
Neither 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.