Andean Precious Metals Establishes Automatic Share Purchase Plan
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ANDEAN PRECIOUS METALS ESTABLISHES
AUTOMATIC SHARE PURCHASE PLAN
TORONTO, Ontario, January 12, 202 4 – Andean Precious Metals Corp. (TSX -V: APM,
OTCQX: ANPMF) (“Andean” or the “Company”) announced today that, in connection with its
previously announced normal course issuer bid (" NCIB") to purchase for cancellation up to
7,833,291 of its common shares (“Common Shares”), the TSX Venture Exchange (the “TSXV”)
has accepted notice that the Company has entered into an automatic share purchase plan
("ASPP") with Desjardins Securities Inc. The ASPP was approved by the TSXV on January 11,
2024 and commenced today, January 12, 2024.
The ASPP is intended to facilitate repurchases of Common Shares at times under the NCIB
when the Company would ordinarily not be permitted to make purchases due to regulatory
restriction or customary self-imposed blackout periods. Before the commencement of any trading
blackout period, Andean may, but is not required to, instruct its designated broker to make
purchases of Common Shares under the NCIB during the ensuing blackout period in accordance
with the terms of the ASPP. Such purchases will be determined by the designated broker at its
sole discretion based on purchasing parameters set by Andean in accordance with the rules of
the TSXV, applicable securities laws and the terms of the ASPP.
The ASPP will terminate on the earliest of the date on which: (a) the maximum annual purchase
limit under the NCIB has been reached; (b) the NCIB expires; or (c) Andean terminates the ASPP
in accordance with its terms. The ASPP constitutes an "automatic se curities purchase plan"
under applicable Canadian securities law.
Outside of pre-determined blackout periods, Common Shares may be purchased under the NCIB
based on management's discretion, in compliance with TSX V rules and applicable securities
laws.
The Company's current NCIB commenced on December 21, 2023, and will remain active
until December 20, 2024, or such earlier date as the NCIB is completed or is terminated at the
Company's election. All purchases of Common Shares made under the ASPP will be included
in determining the number of Common Shares purchased under the NCIB.
There can be no assurance as to the precise number of Common Shares that will be purchased
pursuant to the NCIB, if any. The Company may discontinue purchases under the NCIB at any
time, subject to compliance with applicable regulatory requirements.
About Andean Precious Metals Corp.
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Andean is a growing precious metals producer focused on expanding into top-tier jurisdictions in
the Americas. The Company owns and operates the San Bartolomé processing facility in Potosí,
Bolivia and the Soledad Mountain mine in Kern County, California, and is well-funded to act on
future growth opportunities. Andean’s leadership team is committed to creating value; fostering
safe, sustainable and responsible operations; and achieving our ambition to be a multi-asset,
mid-tier precious metals producer.
For more information, please contact:
Trish Moran
VP Investor Relations
T: +1 416 564 4290
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.
Caution Regarding Forward-Looking Statements
Certain statements and information in this release constitute "forward-looking statements" within
the meaning of applicable U.S. securities laws and "forward -looking information" within the
meaning of applicable Canadian securities laws, which we refer to collectively as "forward -
looking statements". Forward -looking statements are statements and information regarding
possible events, conditions or results of operations that are based upon assumptions about
future economic conditions and courses of action. All statements and information other than
statements of historical fact may be forward-looking statements. In some cases, forward-looking
statements can be identified by the use of words such as "seek", "expect", "anticipate", "budget",
"plan", "estimate", "continue", "forecast", "intend", "believe", "predict", "potential", "target", "may",
"could", "would", "might", "will" and similar words or phrases (including negative variations)
suggesting future outcomes or statements regarding an outlook.
Forward-looking statements in this release include, but are not limited to, statements and
information regarding the operation of the ASPP and NCIB. Forward-looking statements are
necessarily based on estimates and assumptions, while considered reasonable by the Company
as at the date of this press release in light of management's experience and perception of current
conditions and expected developments, are inherently subject to significant business, economic
and competitive uncertainties and risks. Such forward -looking statements are based on a
number of material factors and assumptions, including, but not limited to: including risks related
to the effectiveness of the ASPP and NCIB, the Company’s ability to carry on mining and leach
operations while the fire investigation proceeds; the Company’s ability to recover under
applicable insurance policies; that there is no material adverse change affecting the Company
or its properties; that contracted parties provide goods or services in a timely manner; that no
unusual geological or technical problems occur; that plant and equipment function as anticipated
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and that there is no material adverse change in either the price of silver or costs associated with
production or recovery. Known and unknown risks, uncertainties and other factors which may
cause actual results, performance or achievements, or industry results, to differ materially from
those anticipated in such forward-looking statements set out herein. The Company believes the
expectations reflected in such forward-looking statements are reasonable, but no assurance can
be given that these expectations w ill prove to be correct, and you are cautioned not to place
undue reliance on forward-looking statements contained herein.
Some of the risks and other factors which could cause actual results to differ materially from
those expressed in the forward-looking statements contained in this release include, but are not
limited to: risks and uncertainties relating to the interpretation of drill results, the geology, grade
and continuity of mineral deposits and conclusions of economic evaluations; results of initial
feasibility, pre -feasibility and feasibility studies, and the possibility that future exploration,
development or mining results will not be consistent with the Company's expectations; risks
relating to possible variations in reserves, resources, grade, planned mining dilution and ore loss,
or recovery rates and changes in project parameters as plans continue to be refined; mining and
development risks, including risks related to accidents, equipment breakdowns, labour disputes
(including work stoppages and strikes) or other unanticipated difficulties with or interruptions in
exploration and development, including risks relat ing to permitting; the potential for delays in
exploration or development activities or the completion of feasibility studies; risks related to the
inherent uncertainty of production and cost estimates and the potential for unexpected costs and
expenses; r isks related to commodity prices and foreign exchange rate fluctuations; the
uncertainty of profitability based upon the cyclical nature of the industry in which the Company
operates; risks related to failure to obtain adequate financing on a timely basis and on acceptable
terms or delays in obtaining governmental or local community approvals or in the completion of
development or construction activities; risks related to environmental regulation and liability;
political, legal and regulatory risks associat ed with mining and exploration; risks related to the
uncertain global economic environment; and other factors contained in the section entitled "Risk
Factors" in the Company's Management Discussion and Analysis for the period ended
September 30, 2023 dated November 29, 2023.
Many of these uncertainties and contingencies can affect our actual results and could cause
actual results to differ materially from those expressed or implied in any forward -looking
statements made by, or on behalf of, us. Readers are cautioned that forward-looking statements
are not guarantees of future performance. All forward -looking statements made in this press
release are qualified by these cautionary statements. Specific reference is made to the Risk
Factors section in the Company's most recent MD&A on file with Canadian provincial securities
regulatory authorities for a more detailed discussion of some of the factors underlying forward -
looking statements and the risks that may affect the Company's ability to achieve the
expectations set forth in the forward-looking statements contained in this press release. The
Company disclaims any intention or obligation to update or revise any forward -looking
statements whether as a result of new information, future events or otherwise, except as required
by applicable law.