Ondesa acquires Andaurex shares, cancels placement

Toronto junior Andaurex Resources (VSE) reports Ondesa Holding Ltd. has completed the previously announced acquisition of a 19.9% interest in Andaurex by way of a private placement. Ondesa bought the shares for investment purposes and may increase its interest.

However, Andaurex says Ondesa has cancelled a proposed private placement of 1.1 million units priced at 20 cents each. The units consist of one common share and one non-transferable share purchase warrant entitling the holder to acquire an additional common share of Andaurex at 25 cents. The warrants were scheduled to expire two years from the date of issue.