Source: Los Andes Copper Ltd.
Market Herald logo

Find out more about this capital raise

Be the first with the news that moves the market
  • Los Andes Copper (LA) announced a US$5 million investment from Queen’s Road Capital by way of a convertible debenture
  • The proceeds received from the investment will fund expansion drilling at the Vizcachitas copper project in Chile
  • Queen’s Road Capital is a leading financier to the global resource sector
  • Los Andes Copper Ltd. is a development company with a 100-per-cent interest in the Vizcachitas Project in Chile
  • Los Andes Copper Ltd. (LA) opened trading at $14.91

Los Andes Copper (LA) has announced a US$5M investment from Queen’s Road Capital Investment (QRC) by way of a convertible debenture.

The proceeds raised will fund expansion drilling at the Vizcachitas copper project in Chile and completing the Vizcachitas project pre-feasibility study.

“We are very pleased to work with Queen’s Road Capital and note their steady support of the company,” stated R. Michael Jones, CEO of Los Andes.

“This financing allows us to continue to progress the project and target resource growth while minimizing dilution to shareholders,” he added.

“Queen’s Road Capital sees significant opportunity of value recognition of Los Andes Copper since world-class copper assets are increasingly rare,” said Warren Gilman, Chairman and CEO of Queen’s Road Capital.

The convertible debenture will have a five-year term, carry an eight-per-cent coupon, and will be convertible into common shares in the company’s capital at a share price of C$16.75.

The interest is payable quarterly, five per cent in cash and three per cent in shares at the 20-day volume weighted average price prior to the interest payment date.

The company will set aside US$1.05 million in a separate account to provide for the cash component of the interest on all three tranches of the debentures for the next 18 months.

Once closed the total investment in convertible debentures by Queens Road into Los Andes copper will total US$14,000,000, representing a total number of shares, if converted, of 1,250,462 shares.

Queen’s Road Capital is a leading financier to the global resource sector.

Los Andes Copper Ltd. is a development company with a 100-per-cent interest in the Vizcachitas Project in Chile.

Los Andes Copper Ltd. (LA) opened trading at $14.91.


More From The Market Herald
Desert Mountain Energy - CEO, Robert Rohlfing.

" Desert Mountain Energy (TSXV:DME) completes testing at McCauley Helium Processing Facility

Desert Mountain (DME) has completed testing at its McCauley Helium Processing Facility in Arizona.

" StrategX (CSE:STGX) confirms new discovery at Nagvaak project

StrategX Elements (STGX) finds new energy transition metals from drill hole 14, in target area one of the Nagvaak project in Nunavut.

" Golden Goliath (TSXV:GNG) completes drill holes at its Wish Ore Property

Golden Goliath Resources (GNG) has completed drilling holes at its Wish Ore Project.

" Freegold (TSX:FVL) intersects high-grade gold

Freegold Ventures Limited (FVL) shared the gold results from an additional seven holes done for its drill program on the Golden Summit Project.