Andover Announces Final Payment to Silvermex
29 September 2011 - 11:58PM
Marketwired
Andover Ventures Inc. ("Andover") (TSX VENTURE: AOX)(OTCBB:
AOVTF)(FRANKFURT: R2X) announces that it has paid the final payment
of $2,000,000 to Genco Resources/SilverMex Resources Inc.
("Silvermex"), representing the final payment on a $5,000,000 note
payable for the purchase of 13,034,769 shares of Chief Consolidated
Mining Company ("Chief").
Andover and Silvermex have signed a mutual release between the
parties as this payment represents full and final settlement of the
affairs between the companies with respect to the purchase of the
control position in Chief by Andover.
About Andover:
Andover Ventures is a precious and base metal exploration and
development company, headquartered in Vancouver, British Columbia,
Canada. Andover Ventures' holdings are located in the historic East
Tintic Mining District, Utah, USA, and the polymetallic-rich Ambler
Mining District, Alaska, USA.
For further information we invite you to visit us at
www.andoverventures.com.
ON BEHALF OF THE BOARD
Gordon Blankstein, CEO and Chairman
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Contacts: Andover Ventures Inc. Richard Martens Investor
Relations 1-604-682-2168 or Int'l Toll Free: 1-800-266-4484
www.andoverventures.com
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