VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sept. 30, 2016) - Alianza Minerals Ltd. (TSX VENTURE:ANZ) ("Alianza" or the "Company") is pleased to announce that the $300,000 financing announced on September 26, 2016 has been closed.
"We are very pleased with the participation in this financing," commented Jason Weber, P.Geo., President and CEO of Alianza. "With the funds in hand, the Company continues its business model to explore the recently staked silver-zinc-lead properties in Peru and to perform additional work and bring in partners to advance existing projects in Nevada and Yukon."
Alianza issued 2,400,000 units (a "Unit") at $0.125 per Unit, for gross proceeds of $300,000. Each Unit is comprised of one common share and a half non-transferable common share purchase warrant. Each whole warrant entitles the holder to purchase one additional common share for a 36-month period, expiring September 28, 2019, at a price of $0.20 per common share.
As part of the financing, Alianza paid $2,500 finder's fee in cash and issued finder's warrants, entitling the holder to purchase up to 20,000 Units for a period of 18 months at $0.125 per finder's warrant. The securities issued are subject to a four-month hold period, expiring on January 28, 2017.
In addition, the Board of Directors has also approved the issuance of 1,270,000 stock options to its directors, officers and consultants to purchase common shares of the Company at an exercise price of $0.15 per share for a period of five years, expiring on September 30, 2021.
Alianza now has 28,279,078 common shares outstanding.
About Alianza Minerals Ltd.
Alianza increases the chances of success in mineral exploration by using the "Prospect Generator" business model, focussing on gold and copper exploration in Latin America and Nevada.
The Company has 28.3 million shares issued and outstanding, and is listed on the TSX Venture Exchange (TSX VENTURE:ANZ). Mr. Jason Weber, BSc, P.Geo., Alianza's President and CEO is a Qualified Person as defined by National Instrument 43-101. Mr. Weber supervised the preparation of the technical information contained in this release.
To learn more visit: www.alianzaminerals.com
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.