Andean Precious Metals Announces Normal Course Issuer Bid
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ANDEAN PRECIOUS METALS ANNOUNCES
NORMAL COURSE ISSUER BID
TORONTO, Ontario, September 21, 2022 – Andean Precious Metals Corp. (TSX-V: APM)
(OTCQX: ANPMF) (the “Company”) announces that it has filed with the TSX Venture Ex-
change (the "TSXV") a notice of intention to make a normal course issuer bid ("NCIB") for
certain of its common shares (the “Shares”).
The NCIB has been approved by the Company’s board of directors; however, it is subject to
the approval of the TSXV and, if accepted, will be made in accordance with the applicable
rules and policies of the TSXV and applicable securities laws.
“Currently, we are trading at an enterprise value nearly equivalent to our cash balance and
therefore buying back our stock is a logical step. We have a strong balance sheet with
approximately US$90 million1 in cash and no debt, streams or royalties,” stated Alberto
Morales, Executive Chairman. “This puts us in the unique position of being able to both buy
back our stock at prices that do not reflect the underlying value of the business and transact
on a transformational acquisition in the wider Americas to augment existing cashflows from
our San Bartolomé operation.”
Pursuant to the NCIB, the Company intends to purchase up to 7,895,706 of its outstanding
Shares, representing up to 5% of the total number of Shares outstanding as at September
15, 2022. As at September 15, 2022, there were 157,914,131 issued and outstanding
Shares.
Purchases pursuant to the NCIB will be made on the open market through the facilities of the
TSXV and alternative Canadian trading systems. The NCIB will commence no earlier than
three trading days following receipt of approval of the TSXV and will be open for a maximum
period of 12 months, or such earlier time as the NCIB is completed or at the option of the
Company. All Shares purchased pursuant to the NCIB will be returned to treasury and can-
celled.
All Shares purchased by the Company under the NCIB will be purchased at the market price,
plus brokerage fees, at the time of acquisition in accordance with the rules and policies of the
TSXV and applicable securities laws. All purchases to be made under the NCIB will be pre-
approved and authorized by the board or by a committee that may be authorized by the board
to do so. No purchases will be made other than by means of open market transactions during
the term of the NCIB. Although the Company has a present intention to acquire its Shares
pursuant to the NCIB, it is not obligated to make any purchases and purchases may be
suspended by the Company at any time.
1 As at June 30, 2022
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The Company is undertaking the NCIB because, in the opinion of its board of directors, from
time to time the market price of its Shares may not fully reflect the underlying value of the
Company’s business, and that repurchase of its Shares at current market prices would be an
appropriate use of corporate funds.
The Company has engaged Clarus Securities Inc. to act as the broker to facilitate the pur-
chase of the Shares under the NCIB.
About Andean Precious Metals Corp.
Andean Precious Metals is a Canadian headquartered, growth-focused silver producer that
owns and operates the San Bartolomé project located in the department of Potosí, Bolivia.
San Bartolomé has been operating continuously since 2008, producing an average of over
five million ounces of silver equivalents per year. The Company is also exploring its wholly
owned San Pablo project and seeking other accretive opportunities in Bolivia and Latin Amer-
ica. Andean is committed to fostering safe, sustainable and responsible operations. For more
information, please visit www.andeanpm.com.
Company Contact North America Europe
Trish Moran
VP Investor Relations
T: +1 416 564 4290
Anna Speyer
NATIONAL Capital Markets
T: +1 416 848 1376
Charles Vivian
Tavistock
T: +44 20 7920 3150
Neither the TSX Venture Exchange, Inc. 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.
Forward-Looking Statements
This press release contains forward-looking statements. Forward-looking statements can be
identified by the use of words such as, “expects”, “is expected”, “intends”, “believes”, or vari-
ations of such words and phrases or state that certain actions, events or results “may” or
“will” be taken, occur or be achieved. Forward-looking statements include statements with
respect to the NCIB such as the commencement date and the duration of the NCIB, the
number of Shares that may be purchased under the NCIB, and the Company’s objectives in
completing purchases under the NCIB. Such forward-looking statements are based on as-
sumptions, and can be affected by known and unknown risks, uncertainties and other factors,
including, but not limited to, the equity markets generally, and failure to obtain the necessary
TSXV approval. Accordingly, readers should not place undue reliance on forward-looking
statements. Except as required by law, the Company undertakes no obligation to publicly
update any forward-looking statements, whether as a result of new information, future events
or otherwise.