Altiplano arranges $1.5-million private placement

Executive Summary

• Altiplano Metals Inc. announced a non‑brokered private placement of up to 30 million units at $0.05 per unit, targeting gross proceeds of up to $1.5 million.
• Each unit consists of one common share and one‑half of a non‑transferable warrant (exercisable at $0.075 per share for two years).
• Net proceeds are earmarked to finance exploration and development of existing projects and for general working capital.

Key Details

• Offering size: Up to 30 million units.
• Price per unit: $0.05 (five cents).
• Maximum gross proceeds: $1.5 million.
• Unit composition: 1 common share + ½ non‑transferable warrant.
• Warrant terms: One additional common share at $0.075 per share; exercisable for two years from closing date.
• Hold period: Securities subject to a lock‑up expiring four months and one day after the closing date.
• Closing conditions: Subject to delivery of definitive subscription agreements and acceptance by the TSX Venture Exchange.
• Use of proceeds: Finance exploration and development of Altiplano’s projects; general working capital.
• Finder’s fees: May be paid to arm’s‑length finders in accordance with TSX‑V policies and applicable law.

Notable Quotes

(No direct quotes were provided in the release.)