Altiplano Announces Private Placement

Rhea-AI Summary

Altiplano Metals Inc. (TSXV: APN) has arranged a non-brokered private placement to raise up to C$600,000 in gross proceeds. The Offering consists of up to 6,000,000 units at C$0.10 per unit, each including one common share and one non-transferable share purchase warrant. The net proceeds will be used for the Farallon Project and El Penon processing facility in Chile, as well as for general working capital purposes.

Edmonton, Alberta--(Newsfile Corp. - December 21, 2023) - Altiplano Metals Inc. (TSXV: APN) (WKN: A2JNFG) ("Altiplano" or the "Company") is pleased to announce that it has arranged a non-brokered private placement (the "Offering") of up to 6,000,000 units (the "Units") at C$0.10 per Unit to raise up to C$600,000 in gross proceeds. Each Unit will consist of one (1) common share and one (1) non-transferable share purchase warrant (the "Warrants") of the Company.

Each Warrant will be exercisable to acquire one (1) additional common share at a price of C$0.12 per share for two years from the closing date of the Offering provided that if the closing market price for the Company's common shares is equal to or greater than C$0.20 per share for a period of five (5) consecutive trading days at any point during the term (the "Acceleration Clause"), then the Company may deliver a notice that the Warrants must be exercised within thirty (30) days from the date of delivery of such Notice, otherwise the Warrants will expire at 4:30 p.m. (Vancouver time) on the thirty-first (31st) day after the date of delivery of the Notice.

Completion of the Offering is subject to the delivery of definitive subscription agreements and TSX Venture Exchange's acceptance. All of the securities issued pursuant to this Offering will have a hold period expiring four months and a day after the closing date. The net proceeds of the Offering will be used primarily for the Company's Farallon Project and El Penon processing facility in Chile, and for general working capital purposes. The Company may pay finder's fees raised in connection with the financing to arm's length finders in accordance with the policies of the TSX Venture Exchange and as permitted by law.

Previous Placement

The Company also confirms that its previously announced private placement, which closed on a first tranche on August 29, 2023 (see news release here), has received no further subscriptions and is now fully closed with all requisite and final TSX Venture Exchange approvals. All warrants issued pursuant the previous private placement are subject to the same Acceleration Clause as described above.

About Altiplano

Altiplano Metals is a growing gold, silver, and copper company focused on the Americas. The Company has a diversified portfolio of assets that include an operating copper/gold/iron mine and a state-of-the-art operating copper/gold and iron processing facility in the final stages of completion. Altiplano is focused on creating long-term stakeholder value through developing safe and sustainable production, reinvesting into exploration, and pursuing acquisition opportunities to complement its existing portfolio. Management has a substantial record of success in capitalizing on opportunity, overcoming challenges and building shareholder value. Altiplano trades on the TSX.V under the symbol APN and the Frankfurt Exchange under the symbol A2JNFG.

Altiplano is part of the Metals Group of companies, managed by an award-winning team of professionals who stand for technical excellence, painstaking project selection and uncompromising corporate governance, with a proven ability to capitalize on investment opportunities and deliver shareholder returns. www.metalsgroup.com

ON BEHALF OF THE BOARD

/s/ "John Williamson"
Chairman

For further information, please contact:
Alastair McIntyre, CEO
alastairm@apnmetals.com
Tel: (416) 434-3799

Jeremy Yaseniuk, Director
jeremyy@apnmetals.com
Tel: (604) 773-1467

Neither the 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.

This release includes certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address exploration drilling, exploitation activities and events or developments that the Company expects are forward-looking statements. A qualified person has not done sufficient work to classify any historical estimates as current mineral resources or mineral reserves and the issuer is not treating the historical estimates as current mineral resources or mineral reserves. The Farellon mine was previously in production dating back to the 1970's with a reported historical production (to a depth of 70 m) yielding approximately 300,000 tonnes at an average grade of 2.5% copper and 0.5g/t gold. This material was processed locally and sold to ENAMI. Altiplano is relying upon past production records, underground sampling and related activities and current diamond drilling to estimate grade and widths of the mineralization to reactivate production. The decision to commence production on the Farellon deposit is not based on a feasibility study of mineral reserves demonstrating economic and technical viability and there is increased uncertainty and economic and technical risks of failure associated with any production decision. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in the forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continuity of mineralization, uncertainties related to the ability to obtain necessary permits, licenses and title and delays due to third party opposition, changes in government policies regarding mining and natural resource exploration and exploitation, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. For more information on the Company, investors should review the Company's continuous disclosure filings that are available at www.sedar.com.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/192030

FAQ

What is the purpose of Altiplano Metals Inc.'s (APN) private placement?

The purpose of the private placement is to raise up to C$600,000 in gross proceeds, with the net proceeds being used for the Farallon Project and El Penon processing facility in Chile, as well as for general working capital purposes.

How many units are included in the Offering of Altiplano Metals Inc. (APN)?

The Offering consists of up to 6,000,000 units at C$0.10 per unit.

What are the details of the share purchase warrant included in Altiplano Metals Inc.'s (APN) private placement?

Each unit in the Offering includes one non-transferable share purchase warrant, exercisable to acquire one additional common share at a price of C$0.12 per share for two years from the closing date of the Offering.

How will the net proceeds of the private placement be utilized by Altiplano Metals Inc. (APN)?

The net proceeds will be used primarily for the Company's Farallon Project and El Penon processing facility in Chile, and for general working capital purposes.