EDMONTON, Sept. 20, 2018 /CNW/ - Altiplano Metals Inc. (TSXV: APN) ("APN" or the "Company") is pleased to announce that it has completed the purchase from Comet Exploration Inc. of all of Comet's 50% interest in the Farellon and Maria Luisa projects in Chile as previously announced (see APN's press release dated December 11, 2017). The final step to conclude the transaction was the approval of the demerger agreement by the Chilean tax authorities, which has now been granted.
The Company has also entered into an agreement (the "Agreement") for the sale and transfer all its interests in the Orogrande Property in Idaho to Montego Resources Inc. ("Montego"), in consideration of Montego's payment to the Company of US$50,000, and Montego's issuance to the Company of 520,000 common shares in three (3) instalments at a deemed price of CDN$0.25 per share, subject to certain resale restrictions as described in the Agreement.
Completion of the disposition to Montego is subject to the consent and waiver of Velocity USA, Ltd., which holds a 1.5% net smelter returns royalty over the property, and the acceptance of the Agreement for filing by the TSX Venture Exchange on behalf of the Company.
Altiplano Metals Inc. (APN: TSX‐V) is a mineral exploration company focused on evaluating and acquiring international projects with significant potential for advancement from discovery through to production, with a primary focus on Chile. Management has a substantial record of success in capitalizing opportunity, overcoming challenges and building shareholder value. Additional information concerning Altiplano can be found on its website at www.apnmetals.com.
ON BEHALF OF THE BOARD
s/ "John Williamson"
President and CEO
Tel: (780) 437-6624
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. 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.
SOURCE Altiplano Metals Inc.
For further information: Jeremy Yaseniuk, Director, [email protected], Tel: (604) 773-1467