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Avrupa "pleasantly surprised" by response to fund-raising

The size of the issue has been increased to C$1mln, and the company could have raised more
Dollar symbol
The firm is issuing units at 10 cents each, with each unit consisting of a share and a share warrant

Avrupa Minerals Ltd (CVE:AVU) has increased its private placement to C$1mln, and said the issue is now fully subscribed.

The junior exploration and development company had originally sought to raise C$500,000.

READ Avrupa Minerals set to bring in $500,000 for exploration and operations

"We have been pleasantly surprised by the support from both new and existing shareholders,” said Paul Kuhn, president and chief executive officer of Avrupa.

“While we could have raised quite a bit more on this placement, we have been mindful of the amount of share dilution," he added.

Shares in Avrupa were down half a cent at C$0.10 in lunchtime trading.

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