Los Andes Copper Announces Conversion of US$5 Million Convertible Debenture
Los Andes Copper Announces Conversion of
US$5 Million Convertible Debenture
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2026) - Los Andes Copper Ltd. (TSXV: LA)
(OTCQX: LSANF) ("
Los Andes
" or the "
Company
") announces that Queen's Road Capital Investment
Ltd. ("QRC") is exercising the conversion rights attaching to the US$5,000,000 eight per cent convertible
debenture issued to QRC on June 2, 2021 (the "
Convertible Debenture
") effective April 8, 2026 (the
"
Conversion Date
").
The Convertible Debenture is convertible into common shares of the Company at
a price of CAD$10.82 per common share.
The principal amount of the Convertible Debentures plus accrued interest up to but excluding the
Conversion Date is US$5,043,333 (the "
Conversion Amount
"). Applying the current exchange rate of
US$1.00:CAD1.37, the Conversion Amount in Canadian dollars is CAD$6,909,366.
Under the terms of the indenture governing the Convertible Debenture, the maximum number of common
shares of the Company which may be issued on conversion of the Debentures without further TSX
Venture Exchange ("
TSXV
") approval is 558,502 common shares, which corresponds to $6,042,991 of
the Conversion Amount, leaving a difference of CAD$866,375 of the Conversion Amount outstanding.
The Corporation will be applying to the TSXV for the approval of the conversion of CAD$866,375 of the
Conversion Amount into common shares at $10.82 for a total of 80,071 common shares, bringing the
total number of shares issuable on conversion of the Conversion Amount to 638,573 common shares.
About Queen's Road Capital Investment Ltd.
QRC is a dividend paying, leading financier to the global resource sector. The Company is a resource
focused investment company, making investments in privately held and publicly traded companies. The
Company acquires and holds securities for long-term capital appreciation, with a focus on convertible
debt securities and resource projects in advanced development or production located in politically safe
jurisdictions.
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the
Vizcachitas Project in Chile. The Company is focused on progressing the Project, which is located along
Chile's most prolific copper belt, into production. Vizcachitas is one of the largest copper deposits in the
Americas not controlled by the majors and the Company believes it will be Chile's next major copper
mine.
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 Interim CEO, is the qualified person who has reviewed and
approved the scientific and technical information contained in this news release.
For more information please contact:
Antony Amberg, Interim CEO
Tel: +
56 2 2954-0450
Elizabeth Johnson, Investor Relations
E-Mail:
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/289056