TORONTO, ONTARIO--(Marketwire - Feb. 20, 2013) - Hochschild Mining plc (LSE:HOCM.L)(HOC.L) and Andina Minerals Inc. ("Andina") (TSX VENTURE:ADM) today announced that 1710503 Alberta Ltd. (the "Offeror"), a wholly-owned subsidiary of Hochschild Mining plc, has completed its previously announced compulsory acquisition under the Business Corporations Act (Alberta) of all of the outstanding Andina common shares ("Andina Shares") not already owned by it following its previously announced successful take-over bid. As a result of the acquisition of such shares, the Offeror now owns 100% of the issued and outstanding Andina Shares.
At Andina's request, the trading of the Andina Shares on the TSX Venture Exchange (the "Exchange") has been halted and Andina expects that it will be delisted from the Exchange on or about February 22, 2013, subject to approval of the Exchange. In addition, Andina intends to apply to the relevant securities commissions to cease to be a reporting issuer in all applicable jurisdictions in Canada.
About Hochschild Mining plc
Hochschild Mining plc is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has almost fifty years' experience in the mining of precious metal epithermal vein deposits and currently operates four underground epithermal vein mines, three located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.
About Andina Minerals Inc.
Andina's primary focus is mining exploration and development in Chile. Andina's flagship development project is the 100%-owned Volcan Gold Project, strategically located in the prolific Maricunga Gold Belt in Chile.
In addition to Andina's extensive underexplored land position surrounding the Volcan Gold Project, Andina holds two other mineral properties located within Chile's primary mining regions.