Non-brokered deal finances drilling program on the Vizcachitas project
By Devika Patel
Knoxville, Tenn., Dec. 1 – Los Andes Copper Ltd. said it raised C$305,569 in the second tranche of a C$2.15 million non-brokered private placement of stock on Nov. 26. The deal priced on Sept. 10 and raised C$1.32 million on Sept. 28.
The company is selling 9.75 million shares at C$0.22 each. The price per share is a 29.41% premium to the Sept. 9 closing share price of C$0.17. Los Andes sold 6,018,545 shares in the first tranche and 1,388,950 shares in the second.
Proceeds will be used for a drilling program on the Vizcachitas project and for general working capital purposes.
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: | Stock
|
| Amount: | C$2,145,000
|
| Shares: | 9.75 million
|
| Price: | C$0.22
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Pricing date: | Sept. 10
|
| Settlement dates: | Sept. 28 (for C$1,324,080), Nov. 26 (for C$305,569)
|
| Stock symbol: | TSX Venture: LA
|
| Stock price: | C$0.17 at close Sept. 9
|
| Market capitalization: | C$24.15 million
|
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