Alianza Minerals Financing Increased to $1 million
VANCOUVER, British Columbia, Feb. 13, 2020 (GLOBE NEWSWIRE) — Alianza Minerals Ltd. (TSXV: ANZ OTC: TARSF) (“Alianza” or the “Company”) is pleased to report that the $250,000 financing announced on January 30, 2020 has been oversubscribed and increased to $1 million. The final amount raised will be announced upon closing of the offering but it will be approximately 20 million units at $0.05 for a total of $1,000,000.
Jason Weber, President & CEO, noted that “Management appreciates the support of shareholders and participants in the current financing, enabling us to significantly expand the placement. We are very much looking forward to 2020 and our first drill program in Nevada with our partner Hochschild PLC in April.”Financing TermsEach Unit is comprised of one common share and one common share purchase warrant at $0.05 per unit. The warrant is valid for three years from the date of closing of the offering and is exercisable at $0.10 to acquire one common share.Finder’s fees of 7.5% in cash and 7.5% in finder’s warrants will be paid to eligible parties. Members of Alianza’s board of directors and management team may be participating in this offering. All securities are subject to a four-month hold from the date of closing.About Alianza Minerals Ltd.Alianza employs a hybrid business model of joint venture funding and self-funded exploration to maximize opportunity for exploration success. The Company currently has gold, silver and base metal projects in Yukon Territory, British Columbia, Nevada and Peru. Alianza currently has three projects optioned/leased out in Nevada and Yukon Territory, and is actively exploring on three others. Alianza’s current partners include Hochshild Mining PLC (LON: HOC) and Coeur Mining, Inc. (NYSE: CDE). The Company has 82.4 million shares issued and outstanding and is listed on the TSX Venture Exchange under the symbol “ANZ” and trades on the OTC market in the US under the symbol TARSF.Mr. Jason Weber, P.Geo., President and CEO of Alianza Minerals Ltd. is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.For further information, contact: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. STATEMENTS IN THIS NEWS RELEASE, OTHER THAN PURELY HISTORICAL INFORMATION, INCLUDING STATEMENTS RELATING TO THE COMPANY’S FUTURE PLANS AND OBJECTIVES OR EXPECTED RESULTS, MAY INCLUDE FORWARD-LOOKING STATEMENTS. FORWARD-LOOKING STATEMENTS ARE BASED ON NUMEROUS ASSUMPTIONS AND ARE SUBJECT TO ALL OF THE RISKS AND UNCERTAINTIES INHERENT IN RESOURCE EXPLORATION AND DEVELOPMENT. AS A RESULT, ACTUAL RESULTS MAY VARY MATERIALLY FROM THOSE DESCRIBED IN THE FORWARD-LOOKING STATEMENTS.