On June 16, 2009, Andina Minerals Inc. completed a public offering of 10,350,000 common shares at a price of C$1.50 per common share by way of a bought deal for aggregate gross proceeds of C$15,525,000. The offering was conducted by a syndicate of underwriters co-led by BMO Capital Markets and Canaccord Capital Corporation, and including Haywood Securities Inc., Paradigm Capital Inc., Clarus Securities Inc. and RBC Dominion Securities Inc.