Los Andes Copper Announces Election to Issue Common Shares in Satisfaction of US$14 Million Convertible Debenture Interest Payment Obligations

Rhea-AI Summary

Los Andes Copper (OTCQX: LSANF) announced it has elected to issue 16,853 common shares as payment for interest owing on three convertible debentures dated June 2, 2021, April 4, 2022 and September 2, 2022, representing US$104,994 (C$147,632) of interest.

The shares are issued at a deemed price of US$6.23 (C$8.76) per share under the debenture terms. The Convertible Debentures carry an 8% interest rate payable quarterly (5% cash and 3% in shares) calculated at the greater of the 20-day VWAP prior to the payment date or the TSX-V Discounted Market Price. The issuance remains subject to the debenture terms and receipt of all requisite approvals, including TSX-V approval.

News Market Reaction – LSANF

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1 alert

% News Effect

On the day this news was published, LSANF declined NaN%, reflecting a moderate negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

Convertible debentures: US$5,000,000, US$4,000,000, US$5,000,000 Interest paid in shares: US$104,994 (C$147,632) Shares issued: 16,853 common shares +5 more

8 metrics

Convertible debentures US$5,000,000, US$4,000,000, US$5,000,000 Principal amounts of three 8% convertible debentures

Interest paid in shares US$104,994 (C$147,632) Quarterly interest on convertible debentures paid in shares

Shares issued 16,853 common shares Issued to Queen's Road Capital as interest payment

Deemed issue price US$6.23 (C$8.76) per share Price used to calculate interest shares issued

Coupon rate 8% interest Interest rate on the convertible debentures

Cash vs share interest 5% cash, 3% shares Quarterly interest payment mix under debenture terms

Current price $6.53 Pre-news price vs 200-day MA of $5.55

52-week range $3.66–$8.18 Positioned 20.17% below 52-week high before this news

Market Reality Check

Price: $10.20 Vol: Volume 200 is at 0.05x th...

low vol

$10.20 Last Close

Volume Volume 200 is at 0.05x the 20-day average of 4,185, indicating very light trading ahead of this news. low

Technical Price at 6.53 is trading above the 200-day MA of 5.55 before this announcement.

Peers on Argus

While LSANF showed a -2.77% move on light volume, several copper peers were posi...

While LSANF showed a -2.77% move on light volume, several copper peers were positive, including ARREF at +5.17% and HHLKF at +6.5%, suggesting more stock-specific than sector-driven dynamics.

Historical Context

3 past events · Latest: Dec 04 (Positive)

Pattern 3 events

Date	Event	Sentiment	Move	Catalyst
Dec 04	Community update	Positive	+2.4%	Expanded community programs and agreements around the Vizcachitas project.
Nov 28	Debenture interest shares	Neutral	+0.0%	Issued shares to pay US$104,994 interest on convertible debentures.
Nov 14	Investor conference	Positive	+3.3%	Participation in 121 Mining Investment London investor conference.

Pattern Detected

Recent news events, including community updates, corporate outreach, and this debenture interest payment in shares, have generally seen neutral-to-positive price alignment.

Recent Company History

This announcement follows a series of corporate updates for Los Andes Copper in late 2025. On Nov 14, 2025, the company highlighted participation in the 121 Mining Investment London conference, which coincided with a +3.34% move. On Nov 28, 2025, it reported issuing 16,853 shares to satisfy US$104,994 in debenture interest at US$6.23 per share, with a flat price reaction. On Dec 4, 2025, a social and community update around Vizcachitas aligned with a +2.36% move.

Market Pulse Summary

This announcement described Los Andes Copper’s election to pay debenture interest partly in equity, ...

Analysis

This announcement described Los Andes Copper’s election to pay debenture interest partly in equity, issuing 16,853 shares at a deemed price of US$6.23 to settle US$104,994 in interest on 8% convertible debentures. The move follows a series of corporate and community updates in late 2025. Investors may monitor future interest periods, any further equity issuance under these terms, and how the share price trades relative to the 200-day MA and the 52-week range.

Key Terms

convertible debentures, volume weighted average price, discounted market price

3 terms

convertible debentures financial

"the US$5,000,000, US$4,000,000 and US$5,000,000 eight per cent convertible debentures issued"

Convertible debentures are loans a company issues that pay interest like a bond but can be swapped later for the company’s shares at a set price. For investors they act like a safety-net plus a shortcut: you get regular interest payments while retaining the option to join ownership if the share price rises, which offers upside potential but can dilute existing shareholders if conversion occurs.

volume weighted average price technical

"the 20-day volume weighted average price prior to the interest payment date"

The volume weighted average price (VWAP) is a way to measure the average price of a security, such as a stock, over a specific period, taking into account how many units were traded at each price. It’s similar to calculating the average cost of items bought when some are more frequently purchased than others. Investors use VWAP to assess whether a security is being bought or sold at a fair price during trading.

discounted market price financial

"or (ii) the Discounted Market Price (as such term is defined in the policies"

A discounted market price is the current trading price of a security or asset that is lower than a commonly used reference value—such as its perceived fair value, net asset value, or recent trading levels. For investors it signals a potential bargain or a warning: like finding an item on sale, it can indicate opportunity for profit if the market corrects, but it can also reflect underlying problems or negative sentiment that may persist.

AI-generated analysis. Not financial advice.

Vancouver, British Columbia--(Newsfile Corp. - November 28, 2025) - Los Andes Copper Ltd. (TSXV: LA) (OTCQX: LSANF) ("Los Andes" or the "Company") announces that in accordance with the terms of the US$5,000,000, US$4,000,000 and US$5,000,000 eight per cent convertible debentures issued to Queen's Road Capital Investment Ltd. ("Queen's Road Capital") on June 2, 2021, April 4, 2022 and September 2, 2022 (the "Convertible Debentures"), the Company has elected to issue 16,853 common shares in the capital of the Company ("Common Shares") at a deemed price of US$6.23 (C$8.76) to Queen's Road Capital as payment for US$104,994 (C$147,632) in interest owing on the Convertible Debentures.

Under the terms of the Convertible Debentures, interest is payable quarterly, five per cent in cash and three per cent in shares, at the greater of: (i) the 20-day volume weighted average price prior to the interest payment date; or (ii) the Discounted Market Price (as such term is defined in the policies of the TSX Venture Exchange (the "TSX-V")).

The issuance of the Common Shares as payment for interest owing on the Convertible Debentures is subject to the terms and conditions of the Convertible Debentures as well as the receipt of all requisite approvals, including, without limitation, the approval of the TSX-V.

About Queen's Road Capital Investment Ltd.

Queen's Road Capital Investment Ltd. is a leading financier to the global resource sector. The company is a resource focused investment company, making investments in privately held and publicly traded resource companies.

It is intended that the company will acquire and hold securities for both long-term capital appreciation and short-term gains, with a focus on convertible debt securities and resource projects in advanced development or production located in safe jurisdictions.

Queen's Road Capital Investment Ltd. is listed on the TSX under the ticker: QRC.

About Los Andes Copper Ltd.

Los Andes Copper Ltd. is an exploration and development company with an 100% interest in the Vizcachitas Project in Chile. The Company is focused on progressing the Project, which is located along Chile's most prolific copper belt, into production. Vizcachitas is one of the largest copper deposits in the Americas not controlled by the majors and the Company believes it will be Chile's next major copper mine.

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 Chief Geologist, is the qualified person who has reviewed and approved the scientific and technical information contained in this news release.

For more information, please contact:

Santiago Montt, CEO
santiago.montt@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/276305

FAQ

What did Los Andes Copper (LSANF) announce on November 29, 2025 regarding interest payments?

Los Andes elected to issue 16,853 common shares to settle US$104,994 of interest owing on three convertible debentures.

How was the share price determined for Los Andes Copper's interest payment to Queen's Road Capital?

The shares were issued at a deemed price of US$6.23 (C$8.76) per share as specified under the debenture terms.

What are the interest terms on the convertible debentures referenced by Los Andes Copper (LSANF)?

The convertible debentures carry an 8% annual interest payable quarterly: 5% in cash and 3% in shares, using the greater of 20-day VWAP or the TSX-V Discounted Market Price.

Does the issuance of shares for interest payments require regulatory approval for LSANF?

Yes; the issuance is subject to the debenture terms and the receipt of all requisite approvals, including TSX-V approval.

Which convertible debentures were involved in Los Andes Copper's November 2025 interest share issuance?

The debentures issued to Queen's Road Capital on June 2, 2021, April 4, 2022, and September 2, 2022 were referenced.

How might the LSANF share issuance for interest affect existing shareholders?

The company issued new shares to satisfy interest; the announcement does not state total outstanding shares, so the exact dilution effect was not quantified.