NASSAU, BAHAMAS--(Marketwire - Aug. 15, 2012) - Turnbrook Corporation ("Turnbrook") announces that it has filed an early warning report dated August 15, 2012 advising of its holdings in Los Andes Copper Ltd. (TSX VENTURE:LA) ("Los Andes").
On August 14, 2012, Turnbrook acquired ownership of 13,000,000 common shares (the "Warrant Shares") in the capital of Los Andes through the exercise of previously issued common share purchase warrants. The Warrant Shares were issued from treasury of Los Andes for cash at a price of $0.15 per Warrant Share. Following the acquisition of the Warrant Shares, Turnbrook owns 50,786,039 common shares in the capital of Los Andes, representing 31.2% of the current total issued and outstanding common shares of Los Andes.
Turnbrook acquired the Warrant Shares for investment purposes only and may, depending upon market and other conditions, increase or decrease its ownership of, or control over, common shares or other securities of Los Andes through market transactions, private agreements or otherwise.
The issuance of the Warrant Shares to Turnbrook is exempted from the prospectus requirement under the "Conversion, Exchange or Exercise" exemption set out in section 2.42 of National Instrument 45-106 - Prospectus and Registration Exemptions, as the acquisition of the Warrant Shares was in accordance with the terms and conditions of a security previously issued by Los Andes.
This news release is issued pursuant to National Instrument 62-103 - The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, which also requires a report to be filed with regulatory authorities in each of the jurisdictions in which Los Andes is a reporting issuer containing additional information with respect to the foregoing matters. For more information, or to obtain a copy of the subject early warning report (also filed on the SEDAR website at www.sedar.com).