VANCOUVER, British Columbia, Aug. 17, 2020 (GLOBE NEWSWIRE) -- Los Andes Copper Ltd. ("Los Andes", or the "Company", TSX Venture Exchange: LA) is pleased to announce its intention to proceed with a share consolidation (the “Consolidation”) of its issued and outstanding common shares (“Common Shares”) on the basis of one (1) post-consolidation Common Share for every ten (10) pre-consolidation Common Shares. Following the Consolidation, the Company will have approximately 27,165,813 post-consolidation Common Shares.
Pursuant to the articles of the Company, the Board of Directors (“Board”) of the Company has approved the Consolidation by way of Board resolutions. The Board believes the Consolidation will enable Los Andes to gain increased interest from investors and therefore broaden the Company’s investor base.
The Consolidation remains subject to receipt of approval from the TSX Venture Exchange. The Company name will not be changed in conjunction with the Consolidation.
For more information please contact:
Fernando Porcile, Executive Chairman
Tel: +56 2 2954-0450
Antony J. Amberg, President & CEO
Tel: +56 2 2954-0450
Blythweigh, Financial PR
Tel: +44 207 138 3203
Follow us on twitter: @LosAndesCopper
Follow us on LinkedIn: Los Andes Copper Ltd.
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas copper-molybdenum porphyry project in Chile (the “Project”). The Company is focused on progressing the Project, which is located along Chile's most prolific copper belt, into production.
Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
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; including, without limitation, obtaining the necessary approvals from the TSXV to effect the Consolidation and progressing the Project into production. 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.