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Los Andes Copper Announces Further Investment by Queen's Road Capital
Vancouver, British Columbia--(Newsfile Corp. - March 30, 2022) - Los Andes Copper Ltd. (TSXV: ...
About this update from Queen's Road Capital Investment Ltd.
[{"type":"text","content":"Los Andes Copper Announces Further Investment by Queen's Road CapitalVancouver, British Columbia--(Newsfile Corp. - March 30, 2022) - Los Andes Copper Ltd. (TSXV: LA) (\"Los Andes\" or the \"Company\") is pleased to announce that it has entered into an agreement with Queen's Road Capital Investment Ltd. (TSXV: QRC) (\"Queen's Road Capital\") whereby Queen's Road Capital will invest US$4,000,000 in Los Andes by the way of convertible debenture (the \"Convertible Debenture\"). The Convertible Debenture will have a five-year term, carry an eight percent coupon and will be convertible into common shares in the capital of the Company (\"Common Shares\") at a share price of C$ 19.67. The interest is payable quarterly, five percent in cash and three percent in shares, at the 20-day volume weighted average price prior to the interest payment date.The proceeds received from this investment will be allocated towards the completion of the Vizcachitas project (\"Vizcachitas\" or the \"Vizcachitas Project\") pre-feasibility study and for general corporate purposes.Closing of the financing is subject to the satisfaction of customary closing conditions, including but not limited to TSX Venture Exchange approval and the completion of definitive documentation. Closing is expected to occur the first week of April, 2022.R. Michael Jones, CEO of Los Andes, commented:\"We are very pleased that Queen's Road Capital is making this follow-on investment, which demonstrates its continued confidence in Los Andes Copper. The stalwart support of Queen's Road is a testament to their long-term support of their mining companies. We are at a very exciting time in the Company with significant pending drilling results and a pre-feasibility study in our milestones in the months ahead. This modest capital raise allows the company to complete the milestones we set out for 2022.\" Warren Gilman, Chairman and CEO of Queen's Road Capital, commented:\"Queen's Road Capital is pleased with the progress to date to daylight the value and potential of Los Andes Copper. The further investment in Los Andes is in exact alignment with our strategy to be a financier of choice for mining companies with world class assets.\"About Queen's Road Capital Investment Ltd.Queen's Road Capital is a leading financier to the global resource sector. The Company is a resource-focused investmen...