Andina Copper Closes Concurrent Financings for $27.5 M

Executive Summary

• Andina Copper Corp. closed two non‑brokered private placements for total gross proceeds of $27,500,000 at $0.80 per share.
• Finder’s fees of $1,062,320 were paid to various placement agents.
• The net proceeds will fund exploration on the Piuquenes and Cobrasco Projects, as well as working capital and general corporate purposes.

Key Details

• Placement 1: Issued 15,250,000 common shares at $0.80 per share → $12,200,000 gross proceeds.
• Placement 2: Issued 19,125,000 common shares at $0.80 per share → $15,300,000 gross proceeds.
• Both placements were non‑brokered private placements under the Listed Issuer Financing Exemption.
• Finder’s fees paid: $1,062,320 to Velocity Capital Partners, Haywood Securities Inc., Canaccord Genuity Corp., and others.
• Use of Proceeds: Fund exploration at Piuquenes and Cobrasco Projects; provide working capital; support general corporate purposes.
• Incentive Stock Options Grant: 750,000 options granted to consultants, exercisable at $1.20 with a five‑year term.
• Post‑grant, total outstanding options: 17,373,432 (≈6.5% of outstanding common shares).

Notable Quotes

(No direct quotes from executives were included in the release.)