- AustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Los Andes Copper Ltd. (TSXV:LA) has closed the first tranche of its non-brokered private placement announced in its news release dated Dec. 2, 2016, raising $8.04-million.
Los Andes Copper Ltd. (TSXV:LA) has closed the first tranche of its non-brokered private placement announced in its news release dated Dec. 2, 2016, raising $8.04-million.
On Dec. 8, 2016, the company issued 26.8 million units priced at 30 cents per unit. Each unit consists of one common share of the company and one detachable share purchase warrant entitling the holder thereof to purchase one additional common share of the company at a price of 45 cents per warrant share for a period of three years. The unit shares, warrants and warrant shares are subject to a hold period expiring on April 9, 2017.
Turnbrook Mining Ltd., the company’s largest shareholder, subscribed for the 26.8 million units and assigned its 26.8 million warrants to a third party. The sale of the units to Turnbrook constituted a related-party transaction under TSX Venture Exchange Policy 5.9.
The company will continue to accept subscriptions over the coming weeks in respect of the 3.2 million units that remain available for purchase pursuant to the private placement.
The proceeds of the private placement will be used to finance a proposed work program on the company’s Vizcachitas project and for general working capital purposes.
Click here to connect with Los Andes Copper Ltd. (TSXV:LA) to receive an Investor Presentation.
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.Â