News: ALTIPLANO CLOSES FIRST TRANCHE OF PRIVATE PLACEMENT Altiplano Metals Inc. has closed the first tranche of a non-brokered private placement financing previously announced on Feb. 12, 2025. The first tranche consisted of 12,785,000 units at a price of five cents per unit, for total gross proceeds of $639,250. Each unit consisted of one common share and one-half of a share purchase warrant. Each whole warrant entitles the holder to purchase one common share of the company at an exercise of 7.5 cents per common share until March 31, 2027, provided that if the closing market price for the company's common shares is equal to or greater than 10 cents per share for a period of five consecutive trading days
At any point after the first four months of the term, then the company may deliver a notice that the warrants must be exercised within 30 days from the date of delivery of such notice; otherwise, the warrants will expire at 4:30 p.m. Edmonton time on the 31st day after the date of delivery of the notice. In connection with the sale of these units, Altiplano paid a total of $12,165 in cash and issued 243,300 finder's warrants, on the same terms as the warrants, to an eligible finder for certain of the units sold.
All securities issued are subject to a hold period until Aug. 1, 2025.
The net proceeds of the offering will be used for working capital to support the concentrate production cycle at the El Penon processing facility in Chile, for development costs, including a diamond drill program, at Santa Beatriz to outline a short-term production plan, and to finance general administration, while reviewing additional projects for potential acquisition or alternative mill supply.
The subscriptions by insiders of Altiplano for a portion of the private placement are a related party transaction for the purposes of Multilateral Instrument 61-101, Protection of Minority Security Holders in Special Transactions, but Altiplano is relying on exemptions from the formal valuation and minority shareholder approval requirements provided under sections 5.5(a) and 5.7(1)(a) of MI 61-101 on the basis that the fair market value of the subscriptions, insofar as it involves the insiders of Altiplano, does not exceed 25 per cent of the market capitalization of the issuer, as determined in accordance with MI 61-101.
Altiplano expects to close a second tranche of this offering in the near future.
About Altiplano Metals Inc.
Altiplano Metals is a growing gold, silver and copper company focused on the Americas. The company has a diversified portfolio of assets that include exploration properties, a developing copper/gold/iron mine, and an industry-leading copper/gold and iron processing facility. Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable production, reinvesting into exploration and development, and pursuing acquisition opportunities to provide scalable upside opportunities. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value.
Altiplano is part of the Metals Group of Companies, led by a dynamic group of resource sector professionals with a long record of success in evaluating and advancing mining projects from exploration through to production, attracting capital and overcoming adversity to deliver exceptional shareholder value.
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