TORONTO, ONTARIO--(Marketwire - Aug. 11, 2010) -
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Andean Resources Limited (TSX:AND)(ASX:AND) (the "Company") has successfully completed its previously announced bought deal financing of 70,000,000 new shares, details of which were contained in the Company's news release dated July 21, 2010.
The offering raised C$234,500,000 before expenses from primarily North American based investors under a short form Canadian prospectus; the offering was completed through a syndicate of underwriters with BMO Capital Markets and RBC Capital Markets as joint-bookrunners.
The net proceeds will be used to advance the exploration and development of the Cerro Negro project in Argentina and for general working capital purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
For more information, please contact
Andean Resources Limited
Krista Muhr
Director of Investor Relations
In North America: +1.647.330.1478
In Australia: +61 (0) 448.886.460
krista.muhr@andeangold.com
NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES
Andean Resources Limited (TSX:AND)(ASX:AND) (the "Company") has successfully completed its previously announced bought deal financing of 70,000,000 new shares, details of which were contained in the Company's news release dated July 21, 2010.
The offering raised C$234,500,000 before expenses from primarily North American based investors under a short form Canadian prospectus; the offering was completed through a syndicate of underwriters with BMO Capital Markets and RBC Capital Markets as joint-bookrunners.
The net proceeds will be used to advance the exploration and development of the Cerro Negro project in Argentina and for general working capital purposes.
The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This press release does not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.
For more information, please contact
Andean Resources Limited
Krista Muhr
Director of Investor Relations
In North America: +1.647.330.1478
In Australia: +61 (0) 448.886.460
krista.muhr@andeangold.com
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