VANCOUVER, BC / ACCESSWIRE / July 15, 2015 / AndeanGold Ltd. (TSXV: AAU) (BVL: AAU) ("the Company" or "AndeanGold") wishes to formally announce the closure on a non-brokered private placement originally announced February 26, 2015. This placement was closed on April 29, 2015 and final approval from the TSX Venture Exchange was received on April 30, 2015. Information regarding this closing has been previously filed on SEDAR.
Upon closing, the Company issued 3,550,000 shares at a price of $0.03 per share for gross proceeds of $106,500; no commissions or finder's fees were paid in connection with the private placement. The shares are subject to a four-month hold period from the closing of the private placement.
The Company is using the funds received from this private placement to update an existing mineral resource estimate, negotiate surface rights, carry out additional metallurgical testing and apply for exploitation permits on the Urumalqui Property, Perú and, to offset debts and contribute to general working capital.
About AndeanGold Ltd:
AndeanGold Ltd. is engaged in the acquisition, exploration and potential development of base- and precious-metals properties, principally in Perú and Ecuador. The focus of the Company's current exploration activities is in advancing its Urumalqui Project in La Libertad, Perú. In Ecuador, the Company's activities have been limited to maintaining its three properties in good standing. Please refer to AndeanGold's website at www.andeangoldltd.com or information posted at www.sedar.com for further information on the Company's projects and activities.
AndeanGold Ltd. trades with symbol AAU on the TSX Venture Exchange and currently (post-closing of this transaction) has 112,046,579 shares outstanding (132,987,757 fully diluted).
On Behalf of the Board of Directors of
ANDEANGOLD LTD.
Alexander Peña Böttcher
CEO and President
FOR FURTHER INFORMATION PLEASE CONTACT the CORPORATE OFFICE:
Alexander Peña, AndeanGold Ltd.
Phone: (51) 94020.8400 | (51) 1.252.4407
Email: alexander@andeangoldltd.com
Skype: alexander.pena.bottcher
Website: www.andeangoldltd.com
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE: AndeanGold Ltd.
