Los Andes Copper Announces C$10 Million Bought Deal Financing

Provided By Globe Newswire

Last update: Jan 23, 2023

Not for distribution to U.S. news wire services or dissemination in the United States.

VANCOUVER, British Columbia, Jan. 23, 2023 (GLOBE NEWSWIRE) -- Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") has announced today that it has entered into an agreement with a syndicate of underwriters led by BMO Capital Markets, under which the underwriters have agreed to buy on bought deal basis 800,000 common shares (the “Common Shares”), at a price of $12.55 per Common Share for gross proceeds of $10 million (the “Offering”). The Company has granted the Underwriters an option, exercisable at the offering price for a period of 30 days following the closing of the Offering, to purchase up to an additional 15% of the Offering to cover over-allotments, if any. The offering is expected to close on or about January 30, 2023 and is subject to Los Andes receiving all necessary regulatory approvals.