Arequipa Resources Limited completes special warrants financing.VANCOUVER, British Columbia--(BUSINESS WIRE)--Jan. 26, 1995-- AREQUIPA RESOURCES LTD LTD 1 Laron-type dwarfism 2 Leukotriene D 3 Long-term depression, see there 4. Long-term disability (VSE See DOS/VSE. VSE - Virtual Storage Extended :AQP AQP Aquaporin (family of membrane channel proteins) AQP Association for Quality and Participation AQP Advanced Qualification Program (aviation) AQP Arequipa, Peru - Rodriguez Ballon ) Arequipa Resources Ltd. ("the Company") is pleased to announce that it has closed the second and final tranche of its previously announced private placement of Special Warrants, which were placed by Loewen Ondaatje McCutcheon Limited. In total the Company has raised funds of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network. $2.15 million. Net proceeds Net Proceeds The amount received after all costs are deducted from the sale of a piece of property or security. Notes: In the case of an investor selling a security, net proceeds represent the proceeds from the sale minus any trading costs (i.e. commissions). of this issue will be used to fund Arequipa's ongoing exploration and development of its projects in Peru. Specifically, Arequipa intends to enhance its Paron project on which the previous drill program outlined a mineral resource of over 200,000 near surface ounces of gold (2 million tonnes of 0.10 ounces/tonne gold). A CDN $650,000 exploration program has been designed to double this mineral resource as well as bring it into the proven and probable reserve category. The program will include drilling to test extensions of the deposit to the north, south and west where exploration could add significantly to tonnage. This program is expected to commence once a drill rig has been moved to the property and drill site preparation has been completed. Additional funds will be allocated to further exploration work on the Company's two of its most attractive gold prospects, California IV and El Ferrol and to provide working capital. Arequipa Resources Limited is a mineral exploration and development company focused on the acquisition and development of copper and gold properties in Peru. The Company was founded by Mr. David Lowell who is credited with the discovery of the La Escondida deposit in Chile. The Company's shares trade on the Vancouver Stock Exchange Vancouver Stock Exchange (VSE) A securities and options exchange in Vancouver, British Columbia, (Canada), specializing in venture capital companies. Vancouver Stock Exchange See Canadian Venture Exchange (CDNX). under the symbol AQP. ON BEHALF OF THE BOARD OF DIRECTORS Ms Catherine McLeod President -0- The Vancouver Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release. CONTACT: Arequipa Resources Limited, Ms Catherine McLeod, 604/684-0003 KEYWORDS: REPEATS: New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of 212-575-8822 or 800-221-2462; Boston 617-330-5311 or 80 |
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