Los Andes Copper Ltd. announced that it has entered into an investment agreement with existing investor, Queen's Road Capital Investment Ltd. for a private placement of a convertible debenture at a price of $5,000,000(CAD 6,470,250) for gross proceeds of $5,000,000(CAD 6,470,250) on August 25, 2022. The The debenture will have a five-year term, carry an eight percent coupon and will be convertible into common shares at a share price of CAD 16.75. The interest is payable quarterly, five percent in cash and three percent in shares, at the 20-day volume weighted average price prior to the interest payment date.

The transaction is subject to the satisfaction of customary closing conditions, including but not limited to TSX Venture Exchange and the completion of definitive documentation. The company expects to close the transaction on September 2, 2022.