THE SHELF PROSPECTUS SUPPLEMENT, THE CORRESPONDING BASE SHELF PROSPECTUS AND ANY AMENDMENT TO THE DOCUMENTS ARE ACCESSIBLE THROUGH SEDAR+ OR WILL BE ACCESSIBLE THROUGH SEDAR+ WITHIN 2 BUSINESS DAYS, AS APPLICABLE
TORONTO, Jan. 20, 2026 (GLOBE NEWSWIRE) -- Andean Precious Metals Corp. ("Andean" or the "Company") (TSX:APM) (OTCQX:ANPMF) is pleased to announce that it has entered into an agreement with PMB Partners LP (the "Selling Shareholder"), an entity owned and controlled by Mr. Alberto Morales, Founder, Executive Chairman & CEO of Andean, and National Bank Financial Inc., as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters (collectively, the "Underwriters") pursuant to which the Underwriters have agreed to purchase from the Selling Shareholder, on a bought deal basis, 7,915,000 common shares of the Company (the "Common Shares") at a price of C$10.50 per Common Share (the "Offering Price") for aggregate gross proceeds to the Selling Shareholder of C$83,107,500 (the "Secondary Offering").
The Selling Shareholder and the Company have granted the Underwriters a one time option, exercisable in whole or in part, on or prior to the second day preceding the Closing Date (as defined below), at the sole discretion of the Underwriters, to purchase up to an additional 15% of the number of Common Shares purchased pursuant to the Secondary Offering at the Offering Price (the "Underwriters' Option") to cover over-allotments, if any.
The net proceeds from the Secondary Offering will be paid directly to the Selling Shareholder. The Company will not receive any proceeds from the Secondary Offering.
Alberto Morales, Executive Chairman and CEO commented:
"This transaction will support Andean's strategic vision to strengthen its shareholder base by attracting and increasing interest from institutional investors, while at the same time increasing public float and improving trading liquidity.
Andean has consistently been prudent in avoiding shareholder dilution, and this secondary transaction provides an opportunity to enhance liquidity and attract new investors without issuing additional shares.
Following this secondary transaction, I will remain the Company's largest shareholder with a substantial ownership position. My commitment to Andean's strategy, assets, and team remains unchanged, and will continue to be fully aligned with our shareholders focusing on disciplined execution, balance sheet strength, and building long-term value."
The Secondary Offering is expected to close on or about January 28, 2026 (the "Closing Date"), or such other date as the Company, the Selling Shareholder, and the Underwriters may agree, and is subject to certain conditions including, but not limited to, the receipt of all necessary corporate and regulatory approvals.
The Common Shares will be offered publicly in all provinces and territories of Canada, except Québec and Nunavut, by way of a prospectus supplement (the "Prospectus Supplement") to the Company's short form base shelf prospectus dated November 10, 2025 (the "Base Shelf Prospectus") and in accordance with Regulation S and may be offered: (i) on a private placement basis to "qualified institutional buyers" in the United States in accordance with Rule 144A, and (ii) to non-U.S. Persons (as defined in Regulation S) in any such other jurisdictions outside the United States in reliance on Regulation ...
