Altamira Announces $1,000,000 Non-Brokered Private Placement
Vancouver, British Columbia--(Newsfile Corp. - November 14, 2019) - Altamira Gold Corp. (TSXV: ALTA) (FSE: T6UP) (OTC Pink: EQTRF) ("Altamira" or the "Company") announces that it proposes to raise up to $1,000,000 through a non-brokered private placement of up to 12,500,000 units ("Units") at a price of $0.08 per Unit. Each Unit is comprised of one common share and one non-transferable share purchase warrant exercisable at $0.12 per warrant share for a period of two years from the issue date.
All the securities will be subject to a four-month hold period from the date of closing. The private placement is subject to the approval of the TSX Venture Exchange. Altamira intends to use the net proceeds for its exploration program on the Company's mineral properties in Brazil, and for general working capital purposes.
About Altamira Gold Corp.
The Company is focused on the exploration and development of gold projects within western central Brazil. The Company holds 11 projects comprising approximately 300,000 hectares, within the prolific Juruena gold belt which historically produced an estimated 7 to 10Moz of placer gold. The Company's advanced Cajueiro project has NI 43-101 resources of 5.66Mt @ 1.02 g/t gold for a total of 185,000 oz in the Indicated Resource category and 12.66Mt @ 1.26 g/t gold for a total of 515,000oz in the Inferred Resource category.
On Behalf of the Board of Directors,
ALTAMIRA GOLD CORP.
President & CEO
Statements in this document which are not purely historical are forward-looking statements, including any statements regarding beliefs, plans, expectations or intentions regarding the future. It is important to note that actual outcomes and the Company's actual results could differ materially from those in such forward-looking statements. Except as required by law, we do not undertake to update these forward-looking statements.
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