- Queen’s Road (QRC) will invest C$4M in Los Andes (LA) by way of a convertible debenture
- Los Andes will put the proceeds toward completion of the Vizcachitas Project’s pre-feasibility study, as well as general corporate purposes
- The companies expect the agreement to close the first week of April 2022
- Queen’s Road Capital is a leading financier to the global resource sector
- Los Andes Copper is a development company with a 100-per-cent interest in the Vizcachitas Copper Project in Chile
- Queen’s Road Capital (QRC) is up by 1.37 per cent trading at $0.74 per share
- Los Andes (LA) is up by 2.31 per cent trading at $15.50 per share
Queen’s Road (QRC) will invest C$4M in Los Andes (LA) by way of a convertible debenture.
The debenture will have a 5-year term, carry an 8-per-cent coupon and will be convertible into Los Andes common shares priced at $19.67.
The interest is payable quarterly, including 5 per cent in cash and 3 per cent in shares.
Los Andes will put the proceeds toward the completion of the Vizcachitas Project’s pre-feasibility study, as well as general corporate purposes.
The companies expect the agreement to close in the first week of April 2022.
Queen’s Road previously invested $5M in Los Andes by way of a convertible debenture in May 2021.
“We are at a very exciting time in the company with significant pending drilling results and a pre-feasibility study in our milestones in the months ahead,” stated R. Michael Jones, Los Andes’ CEO. “This modest capital raise allows the company to complete the milestones we set out for 2022.”
“Queen’s Road Capital is pleased with the progress to date to daylight the value and potential of Los Andes Copper,” stated Warren Gilman, Queen’s Road’s Chairman and CEO. “The further investment in Los Andes is in exact alignment with our strategy to be a financier of choice for mining companies with world-class assets.”
Queen’s Road Capital is a leading financier to the global resource sector.
Los Andes Copper is a development company with a 100-per-cent interest in the Vizcachitas Copper Project in Chile.
Queen’s Road Capital (QRC) is up by 1.37 per cent trading at $0.74 per share as of 2:11 pm EST.
Los Andes (LA) is up by 2.31 per cent trading at $15.50 per share as of 2:12 pm EST.
