Sun Valley Gold LLC: Expiry of Warrants of Andina Minerals Inc.
SUN VALLEY, IDAHO--(Marketwire - Nov. 5, 2012) - Sun Valley Gold LLC ("Sun Valley") announced today that on November 2, 2012 a total of 6,250,000 common share purchase warrants ("Warrants") of Andina Minerals Inc. ("Andina") beneficially owned by client accounts, including Sun Valley Gold Master Fund, Ltd. (the "Master Fund"), over which it has discretionary trading authority expired without being exercised. Of the 6,250,000 Warrants over which Sun Valley exercised control and direction, 4,687,500 Warrants were beneficially owned by the Master Fund.
Following the expiry of the Warrants, Sun Valley exercises control and direction over an aggregate of 18,759,892 common shares of Andina ("Common Shares") for and on behalf of client accounts (including the Master Fund). The 18,759,892 Common Shares over which Sun Valley exercises control and direction for and on behalf of client accounts represent approximately 14.51% of the issued and outstanding Common Shares. The Master Fund beneficially owns 12,644,430 of such Common Shares, representing approximately 9.78% of the issued and outstanding Common Shares.
The sole holders of common shares of the Master Fund are Sun Valley Gold International, Ltd., of which Sun Valley is the Investment Manager, and Sun Valley Gold, L.P., of which Sun Valley is the General Partner. Sun Valley is the investment manager for the Master Fund, and has discretionary trading authority over the securities of Andina issued to the Master Fund.
Sun Valley and the Master Fund may increase or decrease their ownership of securities of Andina depending upon future market conditions.
FOR FURTHER INFORMATION, OR TO OBTAIN A COPY OF THE EARLY WARNING REPORT FILED BY SUN VALLEY AND THE MASTER FUND UNDER APPLICABLE SECURITIES LEGISLATION, PLEASE SEE THE CONTACT INFORMATION BELOW.
FOR FURTHER INFORMATION PLEASE CONTACT:
Sun Valley Gold LLC
Linda J. Kish
Chief Legal Officer
(208) 726-0842 (FAX)