Los Andes Announces First Tranche Closing
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 5, 2015) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Los Andes Copper Ltd. ("Los Andes", or the "Company") (TSX VENTURE:LA) is pleased to announce that it has received conditional acceptance from the TSX Venture Exchange to close the first tranche of the private placement announced in its News Release dated September 10, 2015. On September 28, 2015, the Company issued 6,018,545 shares at $0.22 per share for gross proceeds of $1,324,080. These shares are subject to a hold period under applicable Canadian securities laws expiring on January 29, 2016. The Company will use these proceeds for the drilling program of the central core of the Vizcachitas porphyry copper-molybdenum project and for working capital purposes.
The Company has also closed the debt settlement agreements also announced on September 10, 2015, by issuing 660,827 shares at a price of $0.22 per share for an aggregate amount of $145,382. These shares are subject to hold periods under applicable Canadian securities laws expiring on January 29 and January 31, 2016.
Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information; including, without limitation, the achievement and maintenance of planned production rates, the evolving legal and political policies of Chile, the volatility in the Chilean economy, military unrest or terrorist actions, metal and energy price fluctuations, favourable governmental relations, the availability of financing for activities when required and on acceptable terms, the estimation of mineral resources and reserves, current and future environmental and regulatory requirements, the availability and timely receipt of permits, approvals and licenses, industrial or environmental accidents, equipment breakdowns, availability of and competition for future acquisition opportunities, availability and cost of insurance, labour disputes, land claims, the inherent uncertainty of production and cost estimates, currency fluctuations, expectations and beliefs of management and other risks and uncertainties, including those described in Management's Discussion and Analysis in the Company's financial statements. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy, and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contact
Los Andes Copper Ltd.
Antony Amberg
President & CEO
(56-22) 954-0450
Los Andes Copper Ltd.
Aurora Davidson
CFO
604-697-6207
info@losandescopper.com
www.losandescopper.com