Aztec Minerals Corp. (TSX-V: AZT, OTCQB: AZZTF). is freshly financed with strong backing to aggressively advance its projects with two drill programs at its highly prospective properties in Mexico and Arizona. The company is setting up for a busy summer with plenty of news.
The company recently closed an attractive $1.1 million private placement, paying no fees nor offering any warrants, to fund this round of exploration. The multi-billion dollar gold miner, Alamos Gold, took the lion’s share of the financing with 7,926,089 Units, for total proceeds CAD$2,377,826.70 out of the CAD$3.4 million financing.
Alamos now holds 9.9% of the company’s shares on an undiluted basis and 18.0% on a partially diluted basis assuming the exercise of Alamos’ warrants.
Aztec is eager to deliver value through drilling and discovery, and build momentum after consolidating ownership of its Cervantes project and a strong 2022 exploration program