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Avrupa Minerals Ltd

Avrupa Minerals set for $1.5 million financing to advance Alvalade project

Each unit consists of one share and one share purchase warrant, which will allow the holder to buy a further share for 36 months at $0.10 each

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The company will issue 30 million units at $0.05 each

Avrupa Minerals Ltd (CVE:AVU) announced Monday a $1.5 million financing to pay for drilling at its Alvalade copper-zinc-lead VMS project in Portugal.

The company will issue 30 million units at $0.05 each.

Each unit consists of one share and one share purchase warrant, which will allow the holder to buy a further share for 36 months at $0.10 each.

The project generator firm recently announced a 2,500 to 3,000m drill program to expand the currently known mineralized areas and to determine the potential size of the mineralization found to date at its Alvalade VMS project in Portugal’s Iberian Pyrite Belt.

Most of the financing proceeds will be used for this drilling program, and positive results will determine the next steps for the program at Alvalade

Quick facts: Avrupa Minerals Ltd

Price: $0.02

Market: TSX-V
Market Cap: $2.21 m
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