VANCOUVER, British Columbia, Sept. 6, 2001 (PRIMEZONE) -- Andean American Mining Corp. announces a non-brokered private placement of up to 1,250,000 units at a price of $ 0.22 per unit. Each unit consists of one common share and one full, non-transferable share purchase warrant. One share purchase warrant will entitle the holder to acquire one common share of the company for $ 0.30 within 2 years of the date of approval by the CDNX Venture exchange.
There is a finder's fee of 10% payable in cash on $ 110,000.00 of the financing.
The financing will be used as bridge financing for working capital requirements on the Santa Rosa Pilot Plant Project in Peru and for general working capital purposes.
The financing is subject to acceptance for filing with the regulatory authorities.
For further information, please contact: John Devlin at 1-866-885-0484 or jdevlin@aag-cdnx.com, or the Company at phone: (604) 681-6186, toll free: 1-888-356-4784 and Fax : (604) 681-3652 email: info@andeanamerican.com or info@aag-cdnx.com Web site : www.andeanamerican.com
On behalf of Andean American Mining Corp
"John F. Huguet" John F. Huguet President & CEO
This news release may contain forward-looking statements regarding upcoming work programs and events. Actual results may differ materially from those anticipated in such statements.
The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.