| | Published : April 29th, 2013 | Announces $1,000,000 Private Placement |
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AndeanGold Announces $1,000,000 Private Placement
Vancouver, B.C. - April 29, 2013 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture Exchange: AAU, BVL: AAU) is pleased to announce a non-brokered private placement (the "Placement") for the issuance of up to 14,285,714 units at a price of $0.07 per unit to raise gross proceeds of up to $1,000,000. Each unit will be comprised of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company for eighteen months at a price of $0.12 per share.
All securities issued will be subject to a four-month hold period from the closing of the Placement. Completion of the Placement is subject to regulatory approval.
The Company will pay finders' fees with respect to the Placement, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
The proceeds of the Placement will be used principally to fund a Phase II drilling program on the Company's Urumalqui Project in Peru, as well as option payment obligations, and for general working capital purposes.
About AndeanGold Ltd:
AndeanGold Ltd. is engaged in the acquisition, exploration and potential development of primarily precious metals properties, principally in Peru and Ecuador. The focus of the Company's exploration activities is presently in advancing its Urumalqui Project, as well as pursuing mineral property acquisitions, in Peru. In Ecuador, the Company's activities have been limited to administrative and legal matters due to the Mining Mandate issued by the Ecuador Constituent Assembly on April 18, 2008. In November 2009, President Correa signed the Mining Regulations into law pursuant to the requirements of the new Mines Law, which was passed in January 2009. This was the final legal precursor to the re-initiation of exploration and mining development in Ecuador. The Company has been issued new mining titles under the new Mines law to its three key Ecuadorian projects and has filed the requisite documents with the Ministry of Non-Renewable Natural Resources and Ministry of Environment in support of the Company's request to renew exploration programs on its key projects in Ecuador. In September 2012, MRNNR approved the Company's application to restart exploration programs on its Curiplaya Au-Cu project.
Please refer to AndeanGold's website at www.andeangoldltd.com for further information on the Company's projects and activities.
On Behalf of the Board of Directors of ANDEANGOLD LTD.
Anthony F. Ciali President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Office: Tony Ciali, AndeanGold Ltd. Phone: 732.940.5487 Email: tciali@andeangoldltd.com
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Investor Relations: Jamie Mathers, Ascenta Capital Partners Inc. Phone: 604.684.4743 ext. 236 Toll free: 1.866.684.4743 ext. 236 Email: jamie@ascentacapital.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Ascenta Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver � BC V6E 3X1 � Canada
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AndeanGold Announces $1,000,000 Private Placement
Vancouver, B.C. - April 29, 2013 - AndeanGold Ltd. ("the Company" or "AndeanGold") (TSX Venture Exchange: AAU, BVL: AAU) is pleased to announce a non-brokered private placement (the "Placement") for the issuance of up to 14,285,714 units at a price of $0.07 per unit to raise gross proceeds of up to $1,000,000. Each unit will be comprised of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company for eighteen months at a price of $0.12 per share.
All securities issued will be subject to a four-month hold period from the closing of the Placement. Completion of the Placement is subject to regulatory approval.
The Company will pay finders' fees with respect to the Placement, in accordance with applicable securities laws and the policies of the TSX Venture Exchange.
The proceeds of the Placement will be used principally to fund a Phase II drilling program on the Company's Urumalqui Project in Peru, as well as option payment obligations, and for general working capital purposes.
About AndeanGold Ltd:
AndeanGold Ltd. is engaged in the acquisition, exploration and potential development of primarily precious metals properties, principally in Peru and Ecuador. The focus of the Company's exploration activities is presently in advancing its Urumalqui Project, as well as pursuing mineral property acquisitions, in Peru. In Ecuador, the Company's activities have been limited to administrative and legal matters due to the Mining Mandate issued by the Ecuador Constituent Assembly on April 18, 2008. In November 2009, President Correa signed the Mining Regulations into law pursuant to the requirements of the new Mines Law, which was passed in January 2009. This was the final legal precursor to the re-initiation of exploration and mining development in Ecuador. The Company has been issued new mining titles under the new Mines law to its three key Ecuadorian projects and has filed the requisite documents with the Ministry of Non-Renewable Natural Resources and Ministry of Environment in support of the Company's request to renew exploration programs on its key projects in Ecuador. In September 2012, MRNNR approved the Company's application to restart exploration programs on its Curiplaya Au-Cu project.
Please refer to AndeanGold's website at www.andeangoldltd.com for further information on the Company's projects and activities.
On Behalf of the Board of Directors of ANDEANGOLD LTD.
Anthony F. Ciali President, CEO and Director
FOR FURTHER INFORMATION PLEASE CONTACT:
Corporate Office: Tony Ciali, AndeanGold Ltd. Phone: 732.940.5487 Email: tciali@andeangoldltd.com
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Investor Relations: Jamie Mathers, Ascenta Capital Partners Inc. Phone: 604.684.4743 ext. 236 Toll free: 1.866.684.4743 ext. 236 Email: jamie@ascentacapital.com |
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
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Ascenta Capital Partners Inc. � Suite 1610, 1066 West Hastings Street � Vancouver � BC V6E 3X1 � Canada
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AndeanGold
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EXPLORATION STAGE |
CODE : AAU.V |
ISIN : CA03349A2002 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
AndeanGold is a gold exploration company based in Canada. AndeanGold holds various exploration projects in Peru. Its main exploration properties are MOLLETURO, SAN BARTOLOMÉ and CURIPLAYA in Ecuador and RIO SECO and URULMAQUI in Peru. AndeanGold is listed in Canada. Its market capitalisation is CA$ 4.2 millions as of today (US$ 3.3 millions, € 3.2 millions). Its stock quote reached its highest recent level on January 12, 2007 at CA$ 0.58, and its lowest recent point on June 09, 2023 at CA$ 0.01. AndeanGold has 103 930 000 shares outstanding. |
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