Address: 3rd floor, 56 Temperance St
Toronto ON M5H 3V5
Phone: 416 203 3488 Fax: 416 203 3438
Website: http://www.andinaminerals.com
Warrant Symbol - ADM.WT
Number Trading - 12.5 million
Expiration Date - June 2, 2012
Cusip - 034219 14 7
Exercise Price - $2.25
Warrants called to trade news:
Andina warrants to list at open Dec. 4
2009-12-03 16:14 ET - New Listing
Effective at the opening Friday, Dec. 4, 2009, the common share purchase warrants of Andina Minerals Inc. will commence trading on the TSX Venture Exchange. The company is classified as a precious and base metals exploration company.
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Corporate jurisdiction: Alberta
Capitalization: 12.5 million warrants are issued and outstanding
Transfer agent: Equity Transfer & Trust Company
Trading symbol: ADM.WT
Cusip No.: 034219 14 7
The warrants were issued pursuant to the company's amended and restated short form prospectus offering dated Nov. 23, 2009. Each warrant entitles the holder to purchase one common share of the company at a price of $2.25 per share and will expire on June 2, 2012.
Andina closes $25-million bought-deal financing
2009-12-02 09:37 ET - News Release
Mr. George Bee reports
Andina Minerals Inc. has completed the previously announced financing on a bought-deal basis, with a syndicate of underwriters co-led by BMO Capital Markets and Haywood Securities Inc., and including Canaccord Capital Corp. and RBC Dominion Securities Inc. Under the amended terms of the financing announced in Stockwatch on Nov. 23, 2009, Andina issued a total of 12.5 million units, each unit consisting of one common share and one common share purchase warrant, at a price of $2 per unit for gross proceeds of $25-million. Each common share purchase warrant entitles the holder to purchase one common share of the company at a price of $2.25 until June 2, 2012. The warrants are expected to commence trading on the TSX Venture Exchange at the market open on Dec. 4, 2009, under the symbol ADM.WT.
With receipt of the net proceeds of the financing and as of the date of this press release, Andina's cash position is approximately $44.2-million. The net proceeds from the financing will primarily be used to finance development of the Volcan gold project, including development drilling and engineering following completion of the company's conceptual development study for Volcan. In addition, a portion of the proceeds will be used for strategic regional exploration, which could serve to further enhance initial Volcan development. The strategic exploration is focused on several targets that show potential for higher-grade ore in proximity to the proposed initial development site. The remaining funds will be used for general corporate, working capital and administrative purposes.
"We are now in a better position to progress Volcan development, with funding in hand for more advanced engineering studies that could take us to the feasibility stage on initial development," said George Bee, president and chief executive officer. "The next phase of engineering will be contingent on the approval of our board of directors following presentation of Volcan's conceptual development study and preliminary economic assessment, planned for release in early 2010. This funding also gives us greater flexibility to expand strategic regional exploration in the current field season, if warranted by positive results."
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