Avrupa Minerals Ltd. (TSXV:AVU) arranged a private placement of $350,000 of non-brokered private placement units. The Company recently signed an exploration alliance agreement with Callinan Royalties Corporation, and this private placement is also from Callinan.
As quoted in the press release:
The financing will consist of 3.5 million Units at a price of $0.10 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 $0.15 per common share for a 36-month period starting on the closing of this offering. These terms are the same as the terms for the $600,000 financing completed in September.
Avrupa Minerals Ltd. President and CEO, Paul Kuhn, said:
We are pleased to have a strong financial and technical supporter in Callinan, and we will work hard to build value for their investment and our alliance agreement. The additional funding will allow us to continue to build up our premier generative program in Portugal and elsewhere in Europe in order to attract new joint venture partnerships.