Andean American Gold Corp. (AAG.V: Quote) reported that its subsidiary company Sinchao Metals Corp. (SMZ.V: Quote) and Southern Legacy Minerals Inc., have completed their business combination and the transaction has closed.
Prior to the Transaction Andean American owned 65.81% of Sinchao and, following the transaction, it holds 9.84 million post-consolidation common shares, or 16.9% of the newly combined company which has changed its name to Southern Legacy Minerals Inc. and will trade on the TSX Venture Exchange under the ticker symbol LCY once trading resumes, anticipated on July 3, 2012.
The business combination has consolidated Sinchao's and Southern Legacy's claims located within the Yanacocha-Hualgayoc mining district in the department of Cajamarca, Northern Peru to be re-named the AntaKori project, and form a diversified mineral exploration company with base and precious metals properties in Peru, Chile and Colombia.
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by RTT Staff Writer
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