Related Document
Vancouver, British Columbia–(Newsfile Corp. - March 1, 2024) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) (“Los Andes” or the “Company”) announces that in accordance with the terms of the US$5,000,000, US$4,000,000 and US$5,000,000 eight per cent convertible debentures issued to Queen’s Road Capital Investment Ltd. (“Queen’s Road Capital”) on June 2, 2021, April 4, 2022 and September 2, 2022 (the “Convertible Debentures”) the Company has elected to issue 12,012 common shares in the capital of the Company (“Common Shares”) at a deemed price of US$8.74 (C$11.79) to Queen’s Road Capital as payment for US$104,985 (C$141,621) in interest owing on the Convertible Debentures.
Under the terms of the Convertible Debentures, interest is payable quarterly, five per cent in cash and three per cent in shares, at the greater of: (i) the 20-day volume weighted average price prior to the interest payment date; or (ii) the Discounted Market Price (as such term is defined in the policies of the TSX Venture Exchange (the “TSX-V”)).
The issuance of the Common Shares as payment for interest owing on the Convertible Debentures is subject to the terms and conditions of the Convertible Debentures as well as the receipt of all requisite approvals, including, without limitation, the approval of the TSX-V.
About Queen’s Road Capital Investment Ltd.
Queen’s Road Capital Investment Ltd. is a leading financier to the global resource sector. The company is a resource focused investment company, making investments in privately held and publicly traded resource companies.
It is intended that the company will acquire and hold securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions.
Queen’s Road Capital Investment Ltd. is listed on the TSX under the ticker: QRC.
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing the Project, which is located along Chile’s most prolific copper belt, into production. Vizcachitas is one of the largest copper deposits in the Americas not controlled by the majors and the Company believes it will be Chile’s next major copper mine.
The Project is a copper-molybdenum porphyry deposit, located 150 kilometers north of Santiago, in an area of very good infrastructure. An independent technical report for the PFS, prepared in accordance with NI 43-101, is available on the Company’s SEDAR profile.
Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
Qualified Persons
Antony Amberg CGeol FGS, the Company’s Chief Geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release.
For more information please contact:
Santiago Montt, CEO
santiago.montt@losandescopper.com
Tel: +56 2 2954-0450
Elizabeth Johnson, Investor Relations
Elizabeth.johnson@losandescopper.com
E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com
Follow us on twitter @LosAndesCopper
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Certainoftheinformationandstatementscontainedhereinthatarenothistorical facts,constitute “forward-lookinginformation” withinthemeaningoftheSecuritiesAct(BritishColumbia),Securities Act(Ontario)andtheSecuritiesAct(Alberta)(“Forward-LookingInformation”).Forward-Looking Informationisoften,butnotalways,identifiedbytheuseofwordssuchas”seek”,”anticipate”, “believe”,”plan”,”estimate”,”expect”and”intend”;statementsthataneventorresultis”due”onor “may”,”will”,”should”,”could”,ormight”occurorbeachieved;and,othersimilarexpressions.More specifically,Forward-LookingInformationinvolvesknownandunknownrisks,uncertaintiesandother factorswhichmaycausetheactual results,performanceorachievementsoftheCompany,orindustry results,tobemateriallydifferentfrom anyfutureresults,performanceorachievementsexpressedor impliedbysuchForward-LookingInformation.SuchForwardLookingInformationincludes,without limitation,thetimingofandabilitytoobtainTSX-Vandotherregulatoryapprovalsandtheprospects, detailsrelatedtoandtimingoftheVizcachitasProject.SuchForward-LookingInformationisbased upontheCompany’sassumptionsregardingglobal andChileaneconomic,political andmarket conditionsandthepriceofmetalsandenergyandtheCompany’sproduction.Amongthefactorsthat haveadirectbearingontheCompany’sfutureresultsofoperationsandfinancialconditionsare changesinprojectparametersasplanscontinuetoberefined,achangeingovernmentpolicies, competition,currencyfluctuationsandrestrictionsandtechnological changes,amongotherthings.
Shouldoneormoreofanyoftheaforementionedrisksanduncertaintiesmaterialize,orshould underlyingassumptionsproveincorrect,actualresultsmayvarymateriallyfromanyconclusions, forecastsorprojectionsdescribedintheForward-LookingInformation.Accordingly,readersare advisednottoplaceunduerelianceonForward-LookingInformation.Exceptasrequiredunder applicablesecuritieslegislation,theCompanyundertakesnoobligationtopubliclyupdateorrevise Forward-LookingInformation,whetherasaresultofnewinformation,futureeventsorotherwise.
NeitherTSXVentureExchangenoritsRegulationServicesProvider(asthattermisdefinedin policiesoftheTSXVentureExchange)acceptsresponsibilityfortheadequacyoraccuracyofthis release.
