EDMONTON, Nov. 6, 2018 /CNW/ - Altiplano Metals Inc.
(TSXV: APN) ("Altiplano" or the "Company") has
arranged interim bridge loan financing (the "Loans") from various
insiders and other private investors of the Company to raise a
minimum of $100,000 and up to a
maximum of $500,000.
Under the terms of the financing, the Loans will bear interest
at 10% per annum and will be repayable by the Company one year
after their date of advance (the "Maturity Date"). The Company
expects to repay the Loans on the Maturity Date from cash flow
generated from the Company's operations in Chile, conditional upon a positive production
decision being made by the board in 2019.
As compensation to the lenders for the risk of repayment of the
Loans, Altiplano will issue bonus common shares equal to 20% of the
principal amount loaned by each lender at an issue price of
$0.175 per share, or up to a maximum
of 571,428, if the entire $500,000 is
raised. The proceeds of the financing will be used to pay current
trade payables of the Company and to fund the completion of the
current exploration program, with any surplus to provide general
working capital.
About Altiplano
Altiplano Metals Inc. (APN: TSX‐V) is a mineral
exploration company focused on evaluating and acquiring projects
with significant potential for advancement from discovery through
to production, in Canada and
abroad. Management has a substantial record of success in
capitalizing on opportunity, overcoming challenges and building
shareholder value. Additional information concerning Altiplano
can be found on its website at www.apnmetals.com.
ON BEHALF OF THE BOARD
/s/ "John Williamson"
President and CEO
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. 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.
SOURCE Altiplano Metals Inc.
