Los Andes Copper Announces Conversion of US$5 Million Convertible Debenture
Rhea-AI Summary
Los Andes Copper (OTCQX: LSANF) says Queen's Road Capital Investment Ltd. will convert a US$5,000,000 eight percent convertible debenture effective April 8, 2026. The conversion amount including accrued interest is US$5,043,333, equal to CAD$6,909,366 at US$1.00:CAD1.37.
Under the indenture, up to 558,502 common shares can be issued without further TSXV approval, leaving CAD$866,375 to be approved for conversion into 80,071 common shares. Total shares issuable on conversion will be 638,573 common shares at CAD$10.82 per share.
Positive
- Removes US$5,043,333 of convertible debt upon conversion
- Improves balance sheet by converting debt to equity
- Conversion priced at CAD$10.82 per common share
Negative
- Issues 638,573 common shares, causing shareholder dilution
- Requires TSXV approval for CAD$866,375 (80,071 shares) conversion
News Market Reaction – LSANF
In the Mar 18 session, LSANF gained 6.76%, reflecting a notable positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
Vancouver, British Columbia--(Newsfile Corp. - March 18, 2026) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") announces that Queen's Road Capital Investment Ltd. ("QRC") is exercising the conversion rights attaching to the US
The principal amount of the Convertible Debentures plus accrued interest up to but excluding the Conversion Date is US
Under the terms of the indenture governing the Convertible Debenture, the maximum number of common shares of the Company which may be issued on conversion of the Debentures without further TSX Venture Exchange ("TSXV") approval is 558,502 common shares, which corresponds to
About Queen's Road Capital Investment Ltd.
QRC is a dividend paying, leading financier to the global resource sector. The Company is a resource focused investment company, making investments in privately held and publicly traded companies. The Company acquires and holds securities for long-term capital appreciation, with a focus on convertible debt securities and resource projects in advanced development or production located in politically safe jurisdictions.
About Los Andes Copper Ltd.
Los Andes Copper Ltd. is an exploration and development company with an
The Project is a copper-molybdenum porphyry deposit, located 150 kilometers north of Santiago, in an area of very good infrastructure. An independent technical report for the PFS, prepared in accordance with NI 43-101, is available on the Company's SEDAR profile.
Los Andes Copper Ltd. is listed on the TSX-V under the ticker: LA.
Qualified Persons
Antony Amberg CGeol FGS, the Company's Interim CEO, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release.
For more information please contact:
Antony Amberg, Interim CEO
antony.amberg@losandescopper.com
Tel: +56 2 2954-0450
Elizabeth Johnson, Investor Relations
Elizabeth.johnson@losandescopper.com
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
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-Looking Information 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. More specifically, Forward-Looking Information involves known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company, or industry results, to be materially different from any future results, performance or achievements expressed or implied by such Forward-Looking Information. Such Forward-Looking Information includes, without limitation, the timing of and ability to obtain TSX-V and other regulatory approvals and the prospects, details related to and timing of the Vizcachitas Project. Such Forward-Looking Information is based upon the Company's assumptions regarding global and Chilean economic, political and market conditions and the price of metals and energy and the Company's production. Among the factors that have a direct bearing on the Company's future results of operations and financial conditions are changes in project parameters as plans continue to be refined, a change in government policies, competition, currency fluctuations and restrictions and technological changes, among other things. Should one or more of any of the aforementioned risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from any conclusions, forecasts or projections described in the Forward-Looking Information. Accordingly, readers are advised not to place undue reliance on Forward-Looking Information. Except as required under applicable securities legislation, the Company undertakes no obligation to publicly update or revise Forward-Looking Information, whether as a result of new information, future events or otherwise.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/289056