On July 24, 2020, Aztec Minerals Corp. (“Aztec Minerals”) completed a non-brokered private placement (the “Private Placement”) of 10,258,847 units at a purchase price of $0.30 per unit for gross proceeds of $3,077,654 that closed in two tranches on July 9 and July 24, 2020. Each unit was comprised of one common share in the capital of Aztec Minerals and one-half of one common share purchase warrant, with each full warrant being exercisable to purchase one additional common share at an exercise price of $0.40 for a two-year period.
Aztec Minerals is a mineral exploration company that is focused on the discovery of large polymetallic mineral deposits in the Americas. Aztec Mineral’s primary assets include the prospective Cervantes porphyry gold-copper property in Sonora, Mexico, and the Tombstone silver-gold-lead-zinc-copper property in Cochise County, Arizona.
Further details regarding the Private Placement and Aztec Minerals can be found on Aztec Minerals’ website. Aztec Minerals trades under the symbol “AZT” on Tier 2 of the TSX Venture Exchange.