Avrupa Minerals Announces $500,000 Financing
August 05 2014 - 8:00AM
Marketwired Canada
Avrupa Minerals Ltd. (TSX VENTURE:AVU)(FRANKFURT:8AM) is pleased to announce
that it has arranged a financing for $500,000 by way of a non-brokered private
placement of units ("the "Units").
Avrupa has been successful in having three partner companies conducting and
funding a total of five drill programs on its projects in 2014, including three
programs at the Alvalade project, where three recent news releases have
announced good drilling intercepts. Avrupa has also benefitted from its
exploration alliance with Callinan Royalties by being able to conduct
exploration work to upgrade certain 100%-owned projects to a level that
generates further interest from potential partners.
Avrupa continues to maintain a low cost structure, and some of the public
company administration costs are paid with fees earned by operating the
exploration programs for partners on its European projects.
The financing will consist of 2 million 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.
Paul Kuhn, President and CEO, commented, "We have had our best year yet, in
terms of being active on several projects, and the success at the Alvalade
project will keep us active for some time."
Avrupa currently has 38,973,571 common shares outstanding which will increase to
40,973,571 common shares 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.
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.
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, 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.
(604) 687-3520
(888) 889-4874 (FAX)
www.avrupaminerals.com
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