Los Andes Copper to Issue Common Shares Valued at $14 Million in Total

Los Andes Copper Ltd. (TSX.V: LA) has declared that based on the terms of the $5,000,000, $4,000,000, and $5,000,000 eight percent convertible debentures issued to Queen’s Road Capital Investment Ltd. on June 2, 2021, April 4, 2022, and September 2, 2022, respectively, the Company has chosen to issue 10,172 common shares in the capital of the Company at a deemed price of $10.28 to Queen’s Road Capital as the payment for the amount of $104,568 due in interest on the Convertible Debentures. 

This issuance of Common Shares as the payment for interest owing on the Convertible Debentures is subject to the terms and conditions of the Convertible Debentures and the approval of the TSX-V. 

According to the conditions of the Convertible Debentures, each quarter, interest will be paid out in two parts: five percent as cash and three percent as shares, at either the 20-day volume-weighted average price prior to the date of the interest payment or the Discounted Market Price as designated by the policies of the TSX Venture Exchange.

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