Apoquindo Minerals Inc.
TSX VENTURE : AQM
BVLAC : AQM

Apoquindo Minerals Inc.

March 23, 2010 06:06 ET

Apoquindo Minerals Inc. Completes Second Tranche of Non-Brokered Private Placement and Grants Stock Options

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 23, 2010) -

THIS PRESS RELEASE IS NOT FOR DISTRIBUTION IN THE UNITED STATES OR TO U.S. NEWS AGENCIES

Apoquindo Minerals Inc. (TSX VENTURE:AQM)(BVLAC:AQM) ("the Company") is pleased to announce it has completed the second tranche of a non-brokered private placement of 8,663,787 units ("Units"), priced at $0.85 per Unit, for gross proceeds of $7,364,218.95. Each Unit is comprised of one common share (a "Common Share") and one-half of one common share purchase warrant (each whole warrant, a "Warrant"). Each whole Warrant will entitle the holder to acquire one additional Common Share at a price of $1.00 per share until March 22, 2014. The Common Shares and Warrants that comprise the Units will be subject to a four-month hold period under applicable Canadian securities laws expiring on July 23, 2010. 

In connection with the Offering, the Company has agreed to pay finder's fees in accordance with the TSX Venture Exchange (the "Exchange") policies, for assistance provided in the sale of Units of up to 6% in cash of the gross proceeds raised and brokers warrants (the "Brokers Warrants") equal up to 6% of the number of Units sold with the assistance of the finders. Each Brokers Warrant will entitle each finder to acquire common shares of the Company at a price of $1.00 per share until March 22, 2014. The Brokers Warrants will be non-transferable and subject to a four-month hold period under applicable Canadian securities laws.

Together with the brokered private placement and first tranche of the non-brokered private placement that was complete on March 18, 2010 (collectively, the "Offering") the Company has issued 46,179,780 Units for gross proceeds of $39,252,813.

The net proceeds from the Offering will be principally used to advance the Zafranal porphyry copper gold project located in the department of Arequipa, Peru and for working capital purposes.

The Company is also pleased to announce that it has also issued 4,190,000 stock options to its directors, officers and consultants to acquire common shares of the Company for a period of five years, exercisable at $0.87, subject to certain vesting provisions and the terms of the Company's Stock Option Plan and in accordance with the Exchange's policies.

In addition the Company announces that the engagement of Ann Gibbs as Director of Investor Relations has been terminated. 

ON BEHALF OF THE BOARD OF DIRECTORS

Bruce Turner, President and CEO

THIS PRESS RELEASE, REQUIRED BY APPLICABLE CANADIAN LAWS, IS NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR FOR DISSEMINATION IN THE UNITED STATES, AND DOES NOT CONSTITUTE AN OFFER OF THE SECURITIES DESCRIBED HEREIN. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES SECURITIES ACT OF 1933, AS AMENDED, OR ANY STATE SECURITIES LAWS, AND MAY NOT BE OFFERED OR SOLD IN THE UNITED STATES OR TO U.S. PERSONS UNLESS REGISTERED OR EXEMPT THEREFROM.

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.

Contact Information