Los Andes Copper Announces Election to Issue Common Shares in Satisfaction of US$14 Million Convertible Debenture Interest Payment Obligations
Los Andes Copper (TSXV: LA) (OTCQX: LSANF) has announced its decision to issue 16,879 common shares at a deemed price of US$6.22 (C$8.48) to Queen's Road Capital Investment This issuance is to satisfy US$104,988 (C$143,066) in interest payments on three convertible debentures totaling US$14 million. The debentures, issued in 2021 and 2022, carry an 8% interest rate, with 5% payable in cash and 3% in shares. The share price for interest payments is determined by the higher of the 20-day volume-weighted average price or the Discounted Market Price as defined by TSX Venture Exchange policies. This transaction is subject to regulatory approvals, including TSX-V approval.
Los Andes Copper (TSXV: LA) (OTCQX: LSANF) ha annunciato la sua decisione di emettere 16.879 azioni ordinarie a un prezzo stabilito di US$6.22 (C$8.48) a favore di Queen's Road Capital Investment. Questa emissione serve a soddisfare US$104.988 (C$143.066) in pagamenti di interessi su tre obbligazioni convertibili per un totale di US$14 milioni. Le obbligazioni, emesse nel 2021 e 2022, presentano un tasso di interesse dell'8%, con il 5% pagabile in contanti e il 3% in azioni. Il prezzo delle azioni per i pagamenti di interessi è determinato dal valore mediato ponderato per il volume delle ultime 20 giornate o dal Prezzo di Mercato Scontato, come definito dalle politiche della TSX Venture Exchange. Questa transazione è soggetta all'approvazione delle autorità competenti, incluso l'approvazione della TSX-V.
Los Andes Copper (TSXV: LA) (OTCQX: LSANF) ha anunciado su decisión de emitir 16,879 acciones ordinarias a un precio considerado de US$6.22 (C$8.48) a Queen's Road Capital Investment. Esta emisión es para satisfacer US$104,988 (C$143,066) en pagos de intereses sobre tres bonos convertibles por un total de US$14 millones. Los bonos, emitidos en 2021 y 2022, tienen un tasa de interés del 8%, con el 5% pagadero en efectivo y el 3% en acciones. El precio de las acciones para los pagos de intereses se determina por el promedio ponderado por volumen de 20 días o el Precio de Mercado Descontado, tal como lo define las políticas de la TSX Venture Exchange. Esta transacción está sujeta a aprobaciones regulatorias, incluida la aprobación de TSX-V.
로스 안데스 구리 (TSXV: LA) (OTCQX: LSANF)는 퀸즈 로드 캐피탈 인베스트먼트에 대해 16,879주 보통주를 US$6.22 (C$8.48)의 기준 가격으로 발행하기로 결정했다고 발표했습니다. 이번 발행은 총 US$14백만에 해당하는 세 개의 전환사채에 대한 이자 지급금 US$104,988 (C$143,066)을 충족하기 위한 것입니다. 이 전환사채는 2021년과 2022년에 발행되었으며 8%의 이자율을 가지고 있으며, 5%는 현금으로, 3%는 주식으로 지급됩니다. 이자 지급을 위한 주가 산정은 20일의 거래량 가중 평균가격 또는 TSX 벤처 거래소의 정책에 의해 정의된 할인된 시장 가격 중 높은 쪽을 기준으로 합니다. 이 거래는 TSX-V의 승인을 포함한 규제 승인의 대상입니다.
Los Andes Copper (TSXV: LA) (OTCQX: LSANF) a annoncé sa décision d'émettre 16,879 actions ordinaires à un prix fixé de US$6.22 (C$8.48) en faveur de Queen's Road Capital Investment. Cette émission vise à satisfaire US$104,988 (C$143,066) en paiements d'intérêts sur trois obligations convertibles totalisant US$14 millions. Les obligations, émises en 2021 et 2022, portent un taux d'intérêt de 8%, dont 5% payable en espèces et 3% en actions. Le prix des actions pour les paiements d'intérêts est déterminé par le plus élevé entre la moyenne pondérée par le volume sur 20 jours ou le Prix de Marché Décoté tel que défini par les politiques de la Bourse de Toronto (TSX Venture Exchange). Cette transaction est soumise à des approbations réglementaires, y compris l'approbation de la TSX-V.
Los Andes Copper (TSXV: LA) (OTCQX: LSANF) hat bekannt gegeben, dass es beschlossen hat, 16.879 Stammaktien zu einem bestimmten Preis von US$6.22 (C$8.48) an Queen's Road Capital Investment auszugeben. Diese Ausgabe dient der Begleichung von US$104.988 (C$143.066) an Zinszahlungen für drei wandelbare Schuldverschreibungen mit einem Gesamtbetrag von US$14 Millionen. Die Schuldverschreibungen, die 2021 und 2022 ausgegeben wurden, haben einen Zinssatz von 8%, wobei 5% in bar und 3% in Aktien zu zahlen sind. Der Aktienpreis für die Zinszahlungen wird durch den höheren Wert des gewichteten 20-Tage-Durchschnitts oder des nach den Richtlinien der TSX Venture Exchange definierten Diskontierten Marktpreises bestimmt. Diese Transaktion unterliegt der Genehmigung durch Behörden, einschließlich der Genehmigung der TSX-V.
- Ability to satisfy interest payments through share issuance, preserving cash
- Continued support from major investor Queen's Road Capital
- Potential dilution of existing shareholders due to new share issuance
- Ongoing interest payment obligations on US$14 million in convertible debentures
Vancouver, British Columbia--(Newsfile Corp. - September 3, 2024) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") announces that in accordance with the terms of the US
Under the terms of the Convertible Debentures, interest is payable quarterly, five per cent in cash and three per cent in shares, at the greater of: (i) the 20-day volume weighted average price prior to the interest payment date; or (ii) the Discounted Market Price (as such term is defined in the policies of the TSX Venture Exchange (the "TSX-V")).
The issuance of the Common Shares as payment for interest owing on the Convertible Debentures is subject to the terms and conditions of the Convertible Debentures as well as the receipt of all requisite approvals, including, without limitation, the approval of the TSX-V.
About Queen's Road Capital Investment Ltd.
Queen's Road Capital Investment Ltd. is a leading financier to the global resource sector. The company is a resource focused investment company, making investments in privately held and publicly traded resource companies.
It is intended that the company will acquire and hold securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions.
Queen's Road Capital Investment Ltd. is listed on the TSX under the ticker: QRC.
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is an exploration and development company with an
The Project is a copper-molybdenum porphyry deposit, located 150 kilometers north of Santiago, in an area of very good infrastructure. An independent technical report for the PFS, prepared in accordance with NI 43-101, is available on the Company's SEDAR profile.
Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
Qualified Persons
Antony Amberg CGeol FGS, the Company's Chief Geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release.
For more information please contact:
Santiago Montt, CEO
santiago.montt@losandescopper.com
Tel: +56 2 2954-0450
Elizabeth Johnson, Investor Relations
Elizabeth.johnson@losandescopper.com
E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com
Follow us on twitter @LosAndesCopper
Follow us on LinkedIn Los Andes Copper Ltd
Certain of the information and statements contained herein that are not historical facts, constitute "forward-looking information" within the meaning of the Securities Act (British Columbia), Securities Act (Ontario) and the Securities Act (Alberta) ("Forward-Looking Information"). Forward-Looking Information is often, but not always, identified by the use of words such as "seek", "anticipate", "believe", "plan", "estimate", "expect" and "intend"; statements that an event or result is "due" on or "may", "will", "should", "could", or might" occur or be achieved; and, other similar expressions. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information. Such Forward Looking Information includes, without limitation, the timing of and ability to obtain TSX-V and other regulatory approvals and the prospects, details related to and timing of the Vizcachitas Project. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/222077
FAQ
How many common shares is Los Andes Copper (LSANF) issuing to satisfy its interest payment?
What is the deemed price per share for Los Andes Copper's (LSANF) interest payment in September 2024?
What is the total value of the interest payment Los Andes Copper (LSANF) is satisfying with share issuance?
What is the interest rate on Los Andes Copper's (LSANF) convertible debentures issued to Queen's Road Capital?
