Andina Copper Upsizes LIFE Offering and Concurrent Financing to an Aggregate of $27.5 m
Executive Summary
- Andina Copper Corp. upsized its previously announced non‑brokered private placements to a total gross proceeds of $27,500,000 (LIFE Offering $12.2 M + Concurrent Financing $15.3 M).
- The offerings will sell 34,375,000 common shares at $0.80 per share, with the LIFE Offering slated to close around March 11, 2026.
- Net proceeds are earmarked for exploration at the Piuquenes and Cobrasco Projects, working capital, and general corporate purposes.
Key Details
- LIFE Offering:
- Gross proceeds: $12,200,000
- Shares offered: 15,250,000 LIFE Shares @ $0.80 each
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Offered under the Listed Issuer Financing Exemption (except Quebec) – no Canadian hold period.
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Concurrent Financing (Non‑LIFE Offering):
- Gross proceeds: $15,300,000
- Shares offered: 19,125,000 Non‑LIFE Shares @ $0.80 each
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May be offered to Canadian residents under other prospectus exemptions and to qualified investors outside Canada; subject to a four‑month‑plus‑one‑day hold period for Canadian purchasers.
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Finder’s Fees: Company may pay up to 6 % cash in finder’s fees.
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Closing Timeline: LIFE Offering expected to close on or about March 11, 2026; both offerings remain subject to customary closing conditions and TSX Venture Exchange policies.
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Use of Proceeds:
- Fund exploration activities at the Piuquenes (Argentina) and Cobrasco (Colombia) projects.
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Provide working capital and support general corporate purposes as detailed in the offering documents.
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Documentation & Access:
- Amended and restated offering document available on SEDAR+ (www.sedarplus.com) and company website (www.andinacopper.com).
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Securities are not registered under U.S. securities laws; cannot be offered or sold in the United States absent exemption.
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Contact Information:
- Joseph van den Elsen – President & CEO ([email protected])
- Jordan Webster – VP Technical Communications ([email protected])
Notable Quotes
- “The upsized offerings reflect strong investor interest and will provide the capital needed to advance our flagship projects and sustain growth.” – Joseph van den Elsen, President & CEO.