VANCOUVER, British Columbia, Aug. 21, 2020 (GLOBE NEWSWIRE) -- Los Andes Copper Ltd. ("Los Andes", or the "Company", TSX Venture Exchange: LA) is pleased to announce today that it has received all necessary approvals for its previously announced share consolidation (the “Consolidation”). The Consolidation will be effective August 26, 2020 (the “Effective Date”).
The Consolidation received approval from the TSX Venture Exchange and pursuant to the articles of the Company, the Board of Directors of the Company has approved the Consolidation by way of Board resolutions. The Company will consolidate its issued and outstanding common shares (the “Common Shares”) on the basis of one (1) post-Consolidation Common Share for every ten (10) pre-Consolidation Common Shares.
Currently, a total of approximately 271,658,136 pre-Consolidation Common Shares of the Company are issued and outstanding. Accordingly, upon the Effective Date, the outstanding Common Shares of the Company will be reduced to approximately 27,165,813 post-Consolidation Common Shares.
In connection with the Consolidation, the Company’s name and trading symbol (“LA”) will not change.
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
Megan Ray
Rachael Brooks
Tel: +44 207 138 3203
E-Mail: info@losandescopper.com or visit our website at: www.losandescopper.com
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-LookingInformation 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. Morespecifically, Forward-Looking Information involves known and unknown risks, uncertainties and otherfactors which may cause the actual results, performance or achievements of the Company, or industryresults, to be materially different from any future results, performance or achievements expressed orimplied by such Forward-Looking Information; including, without limitation, completing the Consolidation on the Effective Date and progressing the Project into production. SuchForward-Looking Information is based upon the Company's assumptions regarding global andChilean economic, political and market conditions and the price of metals and energy, and theCompany's production. Among the factors that have a direct bearing on the Company's future resultsof operations and financial conditions are changes in project parameters as plans continue to berefined, a change in government policies, competition, currency fluctuations and restrictions andtechnological changes, among other things. Should one or more of any of the aforementioned risksand uncertainties materialize, or should underlying assumptions prove incorrect, actual results mayvary materially from any conclusions, forecasts or projections described in the Forward-LookingInformation. Accordingly, readers are advised not to place undue reliance on Forward-LookingInformation. Except as required under applicable securities legislation, the Company undertakes noobligation to publicly update or revise Forward-Looking Information, whether as a result of newinformation, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined inpolicies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
