Urion Mining International B.V.'s Holdings in Andean American Gold Corp. (TSX VENTURE: AAG) (FRANKFURT: AQN)

AMSTERDAM, The Netherlands, Feb. 16 /CNW/ - Urion Mining International B.V. ("Urion") of Amsterdam, The Netherlands, announces that it has acquired 19,574,605 common shares of Andean American Gold Corp. ("Andean") pursuant to an agreement dated March 31, 2010 (the "Agreement") between Andean and Trafigura Beheer B.V. ("Trafigura"), which Agreement was assigned by Trafigura to Urion, Trafigura's wholly-owned subsidiary, on September 30, 2010.  The acquisition was by way of a private-placement at an agreed discounted market price of CDN$0.77 per share. The discounted market price was calculated using the closing share price of Andean's common shares on the TSX-V on January 28, 2011. The aggregate purchase price for the common shares was CDN$15,072,445.85.  

Urion now exercises control or direction over an aggregate of 27,574,605 common shares of Andean, representing approximately 19.43% of the outstanding shares of Andean.  Urion has exercised the Agreement with the intention of selling the common shares at market prices in compliance with applicable Securities laws.

Trafigura is one of the world's leading international commodity traders, specializing in the oil, minerals and metals market, with 67 offices in 44 countries in Europe, North America, Latin America, South America, Africa, Asia and Australia.  Its principal corporate offices are in Amsterdam, London and Lucerne.  Trafigura's primary trading businesses are the supply and transport of crude oil, petroleum products, renewable energies, non-ferrous concentrates and refined metals.  It is the world's second largest independent non-ferrous trading company and the third largest independent oil trader. 

In connection with this news release an early warning report will be filed by Trafigura in accordance with applicable securities laws.  To obtain a copy of the early warning report, please contact:

Jeremy Weir
Executive Director
Tel: +41 22 594-6904
Email: media@trafigura.com

This press release has been issued in order to comply with applicable securities legislation.

SOURCE Andean American Gold Corp.

For further information:

Jeremy Weir
Executive Director
Tel: +41 22 594-6904
Email: media@trafigura.com

Profil de l'entreprise

Andean American Gold Corp.

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