Minera Andes Inc.
Minera Andes completes first tranche of private placement with Robert R. McEwen
Published in Law and Health Weekly, March 7th, 2009
Minera Andes Inc. (the "Corporation" or "Minera Andes", TSX:MAI and US OTC:MNEAF) is pleased to announce that it has issued 18,299,970 common shares of the Corporation to Robert R. McEwen, a director and existing shareholder of the Corporation. The shares were issued in the first tranche of the transaction with Mr. McEwen (under amended terms announced, February 17, 2009) at a price of C$1.00 per share for gross proceeds to the Corporation of C$18,299,970.
Of the funds that have been received from Mr. McEwen, $US11.3 million will be used to satisfy the cash call made in respect of the Corporation's 49% interest in the San Jose Project, operated by Minera Santa Cruz S.A....
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