AndeanGold Signs Amendment to Agreement to Acquire Interest in Urumalqui Project

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AndeanGold Ltd. (AAU.V) announced that Gitennes Exploration Inc. and the company have signed an amendment to the share sale and mining agreement dated May 17, 2012, which provides the company with the right to acquire Gitennes' 40% interest in the Urumalqui Ag-Au Project in Peru.

The amendment revises the timing and certain amounts of future payment obligations stipulated in the agreement. The scheduled May 17, 2013 payment of $350,000 cash and issuance of 250,000 common shares of the company to Gitennes has been amended to a payment of $150,000 cash and the issuance of 107,000 Shares, with the remaining payment of $200,000 cash and issuance of 143,000 Shares rescheduled for payment on September 17, 2013.




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This article appears in: Investing , Commodities

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