Business
Urion Mining International B.V.'s Holdings in Andean American Gold Corp. (TSX VENTURE: AAG) (FRANKFURT: AQN)
Feb. 16, 2011 (Canada NewsWire Group) -- AMSTERDAM, The Netherlands, Feb. 16 /CNW/ - Urion Mi...
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[{"type":"text","content":"\n\n\n\n Feb. 16, 2011 (Canada NewsWire Group) -- \n\n#ReleaseContent TABLE\n{\n BORDER-COLLAPSE: collapse\n}\nTR.cnwUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTR.cnwDoubleUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTR.cnwBoldUnderlinedCell TD\n{\n BORDER-BOTTOM: #000000 3px solid\n}\nTD.cnwUnderlinedCell\n{\n BORDER-BOTTOM: #000000 1px solid\n}\nTD.cnwDoubleUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px double\n}\nTD.cnwBoldUnderlinedCell\n{\n BORDER-BOTTOM: #000000 3px solid\n}\n#ReleaseContent TABLE.cnwBorderedTable TD\n{\n BORDER-RIGHT: black 1px solid;\n PADDING-RIGHT: 2px;\n BORDER-TOP: black 1px solid;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n BORDER-LEFT: black 1px solid;\n PADDING-TOP: 2px;\n BORDER-BOTTOM: black 1px solid;\n BORDER-COLLAPSE: collapse\n}\n#ReleaseContent TABLE TD\n{\n PADDING-RIGHT: 2px;\n PADDING-LEFT: 2px;\n PADDING-BOTTOM: 2px;\n PADDING-TOP: 2px\n}\n\n\nAMSTERDAM, The Netherlands, Feb. 16 /CNW/ - Urion Mining International\n B.V. ("Urion") of Amsterdam, The Netherlands, announces that it has acquired\n 19,574,605 common shares of Andean American Gold Corp. ("Andean") pursuant to an agreement dated March 31, 2010 (the "Agreement") between Andean and Trafigura Beheer B.V. ("Trafigura"), which Agreement was assigned by Trafigura to Urion, Trafigura's\n wholly-owned subsidiary, on September 30, 2010.  The acquisition was by\n way of a private-placement at an agreed discounted market price of\n CDN$0.77 per share. The discounted market price was calculated using\n the closing share price of Andean's common shares on the TSX-V on\n January 28, 2011. The aggregate purchase price for the common shares\n was CDN$15,072,445.85.  \n\n\nUrion now exercises control or direction over an aggregate of 27,574,605\n common shares of Andean, representing approximately 19.43% of the\n outstanding shares of Andean.  Urion has exercised the Agreement with\n the intention of selling the common shares at market prices in\n compliance with applicable Securities laws.\n\n\nTrafigura is one of the world's leading international commodity traders,\n specializing in the oil, minerals and metals market, with 67 offices in\n 44 countries in Europe, North America, Latin America, South America,\n Africa, Asia and Australia.  Its pr...