| Home : August 2012 : August 29, 2012 News : Andover Completes $1.5 MM USD Convertible Note Financing With the Sentient Group |
Andover Completes $1.5 MM USD Convertible Note Financing With the Sentient Group |
August 29, 2012
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Aug. 29, 2012) - Andover Mining Corp. (TSX VENTURE:AOX)(OTCBB:AOVTF)(FRANKFURT:R2X) ("Andover" or the "Company") is pleased to announce the signing of definitive agreements for a non-brokered convertible note with The Sentient Group ("Sentient") for aggregate proceeds of $1.5 million USD. The convertible note matures in twenty four months, bears zero percent interest, and the note can be converted into Andover shares at 23.5 cents per share at the lenders discretion. No commission, interest, collateral or fees will be paid. Proceeds of the financing will be used to fund the previously announced work program in the Ambler Mineral District of Alaska, host to Andover's flagship "SUN" polymetalic Deposit, and for general working capital.
http://www.marketwire.com/mw/release.do?id=1695727&sourceType=3
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