03:40 PM EST - AndeanGold Ltd. : announced that it has increased its previously announced non-brokered private placement to $1.2 million from $1.0 million. If the placement is fully subscribed for, the company will issue up to 24 million units at a price of $0.05 per Unit. Each Unit is comprised of one common share and one-half of one common share purchase warrant. The company closed the first tranche of the Placement on June 30, 2009. The company anticipates that the second tranche closing of the Placement will take place in mid-July 2009. The company noted that the proceeds of the placement will be used principally to fund Phase I drill program on its Rio Seco Project in Peru and for general working capital purposes. AndeanGold Ltd.
shares V.AAU are trading even at $0.05.
