Los Andes Announces Closing of Private Placement
Marine Building
Suite 1260 – 355 Burrard St,
Vancouver, BC V6C 2G8 Canada
Phone +1.604.681.2802 Fax +1.604.682.2802
www.losandescopper.com
February 16, 2017
N.R. 2017-2
LOS ANDES ANNOUNCES CLOSING OF PRIVATE PLACEMENT
Not for distribution to United States Newswire Services or for dissemination in the United States
Vancouver, BC – Los Andes Copper Ltd. ("Los Andes", or the "Company", TSX
Venture Exchange: LA) is pleased to anno unce that the Company has closed the
private placement announced in its News Release dated December 2, 2016.
On December 8, 2016, the Company issued 26,800,000 units (the “Units”) priced at $0.30
per Unit. Each Unit consists of one common share of the Company (a “Unit Share”) and
one detachable share purchase warrant (a “Wa rrant”) entitling the holder thereof to
purchase one additional common share of the Co mpany (a “Warrant Share”) at a price of
$0.45 per Warrant Share for a period of 3 y ears. The Unit Shares, Warrants and Warrant
Shares are subject to a hold period expiring on April 9, 2017.
Turnbrook Mining Ltd. (“Turnbr ook”), the Company’s largest shareholder, subscribed for
the 26,800,000 Unit s and assigned its 26,800, 000 Warrants to a third party. The sale of
the Units to Turnbrook constituted a re lated party transaction under TSX Venture
Exchange Policy 5.9.
The proceeds of the Privat e Placement will be used to f und a proposed work program on
the Company’s Vizcachitas project and for general working capital purposes.
The Private Placement is subject to acceptance by the TSX Venture Exchange.
For more information please contact:
Antony Amberg, President & CEO Tel: (56-22) 954-0450
Aurora Davidson, Chief Financial Officer Tel: 604-697-6207
E-Mail: [email protected] or visit our website at: www.losandescopper.com
Certain of the information and statements contained herein that are not historical facts, constitute “forward-looking informati on” within the
meaning of the Securities Act (British Co lumbia) and the Securities Act (Alberta) (“Fo rward-Looking Information”). Forward-Loo king
Information is often, but not always, identified by the use of wo rds 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, Forwar d-Looking Information involves known and unk nown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the Co mpany, or industry results, to be materially different from any future results,
performance or achievements expressed or imp lied by such Forward-Looking Information; including, without limitation, the achiev ement and
maintenance of planned production rates, the evolving legal and political policies of Chile, the volatility in the Chilean econ omy, military
unrest or terrorist actions, metal and energy price fluctuations, favourable government al relations, the availability of financ ing for activities
when required and on acceptable terms, the estimation of mineral resources and reserves, current and future environmental and r egulatory
requirements, the availability and timely receipt of permits, approvals and licenses, industrial or environmental accidents, eq uipment
breakdowns, availability of and competition for future acquisition opportunities, availability and cost of insurance, labour disputes, land claims,
the inherent uncertainty of production and cost estimates, curr ency fluctuations, expectations and beliefs of management and other risks and
uncertainties, including those described in Management’s Discussion and Analysis in the Company’s financial statements. Such F orward-
Looking Information is based upon the Company ’s assumptions regarding global and Chilean economic, political and market conditi ons and
the price of metals and energy, and the Company's production. Am ong the factors that have a direct bearing on the Company’s fu ture
results of operations and financial conditions are changes in project parameters as pl ans continue to be refined, a change in g overnment
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 t o 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 Regulati on Services Provider (as that term is def ined in policies of the TSX Venture Excha nge)
accepts responsibility for the adequacy or accuracy of this release.