LA Los Andes Copper Ltd

Los Andes Copper Ltd. ("Los Andes", or the "Company") (TSX
VENTURE:LA)(PINKSHEETS:LSANF) is pleased to announce that the Company has
received approval from the TSXV for the acquisition by the Company from
Turnbrook Mining Ltd. ("TBML") of the non-consumptive water rights over a
section of the Rocin River, Putaendo, Fifth Region, Chile, together with the
engineering and other studies and reports for the development of a run-of-river
hydroelectric project generation facility (collectively, the "Hydro Electric
Project"). The Company received written consents for the acquisition from a
majority of shares held by disinterested shareholders of the Company
representing 61.5% of the disinterested shares.


As consideration for the acquisition, the Company will issue to TBML 37,500,000
shares in the capital of the Company. At current market value for the Company's
common shares, Los Andes is effectively purchasing the Hydro Electric Project at
a discount of approximately 48% to the Cdn$14,450,000 deemed value supported by
the fairness opinion obtained by the Company.


Mr. Eduardo Covarrubias, President and CEO, stated, "We are extremely pleased to
have received the votes of disinterested shareholders holding more than 62
million shares approving the acquisition of the Hydro Electric Project. As we
have already stated, Los Andes management believes that the acquisition of the
Hydro Electric Project will bring a number of important benefits to the Company,
including the potential to not only provide a portion of the power requirements
for the Company's mine, but also cash flow until the power is required by the
Company. Funds generated by the Hydro Electric Project could also help fund the
mine's pre-construction development and other ongoing costs, and potentially
reduce the need for future dilution of the Company's shares."


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.


FOR FURTHER INFORMATION PLEASE CONTACT: 
Los Andes Copper Ltd.
Eduardo Covarrubias
President & CEO
(56-99) 323-3156


Los Andes Copper Ltd.
Michael Kuta
Corporate Secretary
604-697-6201
info@losandescopper.com
www.losandescopper.com

Los Andes Copper (TSXV:LA)
과거 데이터 주식 차트
부터 5월(5) 2024 으로 6월(6) 2024

Los Andes Copper (TSXV:LA)
과거 데이터 주식 차트
부터 6월(6) 2023 으로 6월(6) 2024