AndeanGold Ltd Announces $1,000,000 Private Placement

Monday, 29 Apr 2013 09:00am EDT 

AndeanGold Ltd announced a non-brokered private placement (the Placement) for the issuance of up to 14,285,714 units at a price of $0.07 per unit to raise gross proceeds of up to $1,000,000. Each unit will be comprised of one common share and one-half of one common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Company for eighteen months at a price of $0.12 per share. All securities issued will be subject to a four-month hold period from the closing of the Placement. Completion of the Placement is subject to regulatory approval. The proceeds of the Placement will be used principally to fund a Phase II drilling program on the Company's Urumalqui Project in Peru, as well as option payment obligations, and for general working capital purposes. 

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