VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 9, 2016) -
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
Turnbrook Mining Limited ("Turnbrook") of Suite E-2, Union Court Building, Elizabeth Avenue and Shirley Street, PO Box N-8188, Nassau, Bahamas, announces, pursuant to National Instrument 62-103 The Early Warning System and Related Take-Over Bid and Insider Reporting Issues, that on December 8, 2016 it acquired 26,800,000 units ("Units") of Los Andes Copper Ltd. ("Los Andes") at a price of $0.30 per Unit. Each Unit consists of one common share of Los Andes and one detachable share purchase warrant (a "Warrant") entitling the holder thereof to purchase one additional common share of Los Andres (a "Warrant Share") at a price of $0.45 per Warrant Share for a period of three (3) years. Turnbrook assigned its 26,800,000 warrants to a third party.
This acquisition was made for investment purposes only and Turnbrook may, depending upon market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of Los Andes through market transactions, private agreements or otherwise.
Prior to the transaction described herein, Turnbrook owned 113,136,144 common shares of Los Andes, representing approximately 51.88% (51.55% fully diluted) of Los Andres' total issued and outstanding common shares. As a result of the transaction, Turnbrook now owns 139,936,144 common shares, representing approximately 57.15% (51.24% fully diluted) of the current total issued and outstanding common shares of Los Andes.