Avrupa Minerals Ltd. has successfully closed a private placement as announced in mid-August, raising $350,000 through the sale of 10,000,000 Units at $0.035 per Unit. Each Unit consists of one common share and one common share purchase warrant, which allows the holder to purchase an additional share at $0.10 until September 5, 2027. The warrants are non-transferable, and all securities issued are subject to a four-month hold period ending on January 6, 2025. No finders’ fees were paid.
A director of the company acquired 371,429 Units, making this transaction a related party transaction under TSX Venture Exchange policies. However, the company relied on exemptions under Multilateral Instrument 61-101 (MI 61-101) since the transaction value did not exceed 25% of the company’s market capitalization.
The proceeds from this placement will primarily be used for drilling and exploration programs in Finland, ongoing operations in Portugal and Kosovo, and for general corporate purposes. None of the funds will be used for investor relations or paid to non-arms-length parties. Avrupa Minerals, a junior exploration company, focuses on mineral discovery in politically stable regions of Europe, with projects in Portugal, Finland, and Kosovo.
