VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 6, 2017) - Alianza Minerals Ltd. (TSX VENTURE:ANZ) ("Alianza" or the "Company") has oversubscribed the offering to raise $550,000 and the offering is now closed at $625,000, or 5 million units.
The funds will be used to advance exploration projects in Nevada and Peru. In keeping with the Company's business model, projects in its portfolio will be upgraded to attract partners to fund further exploration. Management is planning first pass programs on newly acquired concessions prospective for zinc in central Peru and further work, including drill target definition, on its gold projects in Nevada.
Jason Weber, President and CEO, noted "We are eager to follow up very encouraging results from our 2017 programs, particularly in Nevada where we are starting to identify compelling drill targets at properties such as Horsethief. We can now continue to build shareholder value by advancing those projects towards drilling this year as well as assessing our newly acquired zinc targets in Peru. We anticipate a busy and productive 2017."
The financing was comprised of 5 million units with each unit consisting of one common share and one half of a common share purchase warrant valid for a period of three years at an exercise price of $0.20 until March 6, 2020. $21,700 cash finder's fee and 173,600 finders' warrants were granted. Each finder's warrant is exercisable into a unit at $0.125 for a period of 18 months. All securities have a four-month hold period until July 6, 2017. The financing has received the TSX Venture Exchange final approval.
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 33.3 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.
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.