AndeanGold Announces Settlement Of Indebtedness by Issuance of Shares
March 31 2014 - 1:30PM
Marketwired
AndeanGold Announces Settlement Of Indebtedness by Issuance of
Shares
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Mar 31, 2014) -
AndeanGold Ltd. ("the Company" or "AndeanGold")
(TSX-VENTURE:AAU)(LMA:AAU) is pleased to announce that the Company
has agreed to settle in full, indebtedness in the amount of
$398,225.55 by the conversion thereof into 7,964,511 common shares
(the "Shares") of the Company at a price of $0.05 per share in
accordance with the policies of the TSX Venture Exchange.
In accordance with securities legislation currently in effect,
the Shares will be subject to hold period of four months plus one
day from the issuance of the aforesaid securities.
This transaction is subject to acceptance by the applicable
regulatory authorities.
About AndeanGold Ltd:
AndeanGold Ltd. is engaged in the acquisition, exploration and
potential development of primarily precious metals properties,
principally in Peru and Ecuador. The focus of the Company's
exploration activities is presently in advancing its Urumalqui
Project, as well as pursuing mineral property acquisitions, in
Peru. In Ecuador, the Company's activities have been limited to
administrative and legal matters due to the Mining Mandate issued
by the Ecuador Constituent Assembly on April 18, 2008. In November
2009, President Correa signed the Mining Regulations into law
pursuant to the requirements of the new Mines Law, which was passed
in January 2009. This was the final legal precursor to the
re-initiation of exploration and mining development in Ecuador. The
Company has been issued new mining titles under the new Mines law
to its three key Ecuadorian projects and has filed the requisite
documents with the Ministry of Non-Renewable Natural Resources and
Ministry of Environment ("MRNNR") in support of the Company's
request to renew exploration programs on its key projects in
Ecuador. In September 2012, the Company received authorization from
the MRNNR to renew exploration programs on its Curiplaya
Project.
Please refer to AndeanGold's website at www.andeangoldltd.com
for further information on the Company's projects and
activities.
On Behalf of the Board of Directors of ANDEANGOLD LTD.
Anthony F. Ciali, President, CEO and Director
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.
Corporate Office:AndeanGold Ltd.Tony
Ciali732.940.5487tciali@andeangoldltd.comwww.andeangoldltd.comInvestor
Relations:Jamie Mathers778.879.5084jsmathers6@gmail.com
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