VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 12, 2014) - Avrupa Minerals Ltd. (TSX VENTURE:AVU)(FRANKFURT:8AM) is pleased to announce that the $500,000 financing announced on August 5, 2014 has been over-subscribed and increased to $1,000,000. The financing participants include investors that have supported Avrupa in the past and who are able to assist Avrupa in the future with potential financial and strategic support. The financing is fully subscribed and will close shortly.
Paul Kuhn, President and CEO commented, "Avrupa is pleased with the continued strong support shown by the core strategic shareholder group. Our three joint-venture partners' programs in 2014, as well as the exploration alliance with Callinan Royalties, will benefit the existing and new shareholders, and the success at the Alvalade project will also keep us active in the near future."
With the increase in the financing, it will now consist of 4,000,000 Units at a price of $0.25 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 $0.40 per common share for a 36-month period starting on the closing of this offering. A commission of 5% cash and 7% finder's warrants will be paid to certain parties. The securities are subject to a four-month hold period from the final closing date.
Avrupa will now have 42,973,571 common shares outstanding upon completion of this financing. The core strategic shareholder group continues to hold a significant amount of the shares of Avrupa, including insiders, Callinan, and certain individual investors. The financing will be closed shortly upon approval by the TSX Venture Exchange.
Avrupa Minerals Ltd. is a growth-oriented junior exploration and development company focused on discovery, using a prospect generator model, of valuable mineral deposits in politically stable and prospective regions of Europe, including Portugal, Kosovo, and Germany.
The Company currently holds 14 exploration licenses in three European countries, including eight in Portugal covering 2,951.6 km2, five in Kosovo covering 153 km2, and one in Germany covering 307 km2. Avrupa operates three joint ventures and one exploration alliance 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 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; and
-- The CalGen Exploration Alliance, with Callinan Royalties Corp., covering
generative exploration throughout Portugal, and including specific
prospect upgrade work on the Alvito IOCG license in southern Portugal.
Avrupa is currently upgrading precious and base metal targets to JV-ready status in a variety of districts on their other licenses, with the idea of attracting potential partners to project-specific and/or regional exploration programs.
On behalf of the Board,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 in the State of Washington, USA
, 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.
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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Avrupa Minerals Ltd.
Source: Avrupa Minerals Ltd.