AbraPlata Resource – An exploration Company focused in Argentina with a recently announced increased drilled program
AbrapPlata Resource Corp. (TSX.V:ABRA – OTC:ABBRF) has been brought up on the show by a couple people over the past month, most recently Brien Leni. I reached out to the Company for an update right after the recent news on Monday increasing the Company’s drill program.
John Miniotis, President and CEO of AbraPlata joins me for a general overview of the Company. We start with a background on the Company’s flagship project the Diablillos Project in Salta, Argentina. We then focus on the fully funded 8,000 meter drill program. Finally a couple comments on the team at AbraPlata as well as key shareholders.
Please email me with any follow up questions at Fleck@kereport.com.
Click here to visit the AbraPlata website and read over the Company’s presentation.
Eric Sprott likes them….
AbraPlata Closes $5.0 Million Private Placement With $3.0 Million Investment From Eric Sprott
TheNewswire.ca – Thu Jul 9, 4:30PM CDT
(via TheNewswire)
Toronto – TheNewswire – July 09, 2020: AbraPlata Resource Corp. (TSXV:ABRA.VN) (OTC:ABBRF) (“AbraPlata” or the “Company”) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Placement”). In connection with the closing of the Placement, the Company issued 43,478,261 units (each, a “Unit”) at a price of $0.115 per Unit for gross proceeds of $5.0 million. Each Unit consists of one common share in the equity of the Company (each, a “Common Share”) and one share purchase warrant (each, a “Warrant”). Each Warrant will entitle the subscriber to purchase one additional Common Share at a price of $0.17 until the second (2nd) anniversary of the closing date of the Private Placement (the “Expiry Date”).
Mr. Eric Sprott through 2176423 Ontario Ltd. (“2176423”), a corporation which is beneficially owned by him, acquired 26,000,000 Units pursuant to the Private Placement. As a result Mr. Sprott beneficially owns and controls 26,000,000 Shares of the Company and 26,000,000 Warrants representing 8.2% of the issued and outstanding Common Shares on a non-diluted basis, and 15.1% on a partially diluted basis, assuming the exercise of Mr. Sprott’s share purchase warrants. Prior to the closing of the Private Placement, Mr. Sprott did not beneficially own or control any securities of the Company.