Los Andes Seeks to Raise up to $9 Million

Los Andes Copper (TSXV:LA) announced its plan to raise up to $9 million in gross proceeds from a non-brokered private placement comprised of up to 30,000,000 units at $0.30 per Unit, with each Unit consisting of one common share of the Company and a detachable share purchase warrant.
As quoted in the press release:

The Company is arranging for the sale of up to 30,000,000 units (the “Units”) priced at $0.30 per Unit, with each Unit consisting of one common share of the Company (a “Unit Share”) and one detachable share purchase warrant entitling the holder thereof to purchase one additional common share of the Company (a “Warrant Share”) at a price of $0.45 per Warrant Share for a period of 3 years. Turnbrook Mining Ltd. (“Turnbrook”), the Company’s largest shareholder, has committed to purchase 26,800,000 units for a total amount of $8,040,000.

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