Non-brokered deal funds Vizcachitas project exploration, development
By Devika Patel
Knoxville, Tenn., Dec. 24 – Los Andes Copper Ltd. said it has arranged a C$1.45 million non-brokered private placement of stock.
The company will sell 6,590,909 common shares at C$0.22 each. The price per share is identical to the Dec. 23 closing share price.
Proceeds will be used for exploration and development work on the Vizcachitas project and general working capital purposes.
The company also said it plans to raise C$652,587 in a shares-for-debt agreement with Turnbrook Mining Ltd. and Zeitler Holdings Corp.
Vancouver, B.C.-based Los Andes is an exploration and development company focused on the acquisition, exploration and development of advanced-stage copper deposits in Latin America.
| Issuer: | Los Andes Copper Ltd.
|
| Issue: | Common stock
|
| Amount: | C$1.45 million
|
| Shares: | 6,590,909
|
| Price: | C$0.22
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 24
|
| Stock symbol: | TSX Venture: LA
|
| Stock price: | C$0.22 at close Dec. 23
|
| Market capitalization: | C$44.1 million
|
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