Aztec Minerals Completes $1.6 Million Private Placement Financing
Aztec Minerals Corp. has closed the final tranche of its $1.6 million private placement financing. The funds are intended for mineral exploration in Mexico and the USA.
Vancouver, Canada – Aztec Minerals Corp. (AZT: TSX-V, OTCQB: AZZTF) announced on November 18, 2021, that it has closed the final tranche of its oversubscribed CAD$1.6 million private placement financing. The final tranche raised CAD$575,000.
The company intends to use the proceeds to conduct exploration work on its Cervantes porphyry gold-copper project in Sonora, Mexico, and its Tombstone epithermal gold-silver and CRD silver-lead-zinc-copper-gold project in Arizona, USA. The funds will also be used for general working capital purposes.
The financing will support Aztec Minerals' exploration strategy at its key projects. The Cervantes property is targeted for porphyry gold-copper deposits, while the Tombstone property offers potential for epithermal gold-silver and polymetallic CRD mineralization.
The securities issued are subject to a hold period of four months and one day, ending March 18, 2022. Final acceptance of the placement is pending approval from the TSX Venture Exchange.