Andover Mining Corp. (TSXV:AOX) announced a non-brokered private placement of convertible note from a returning investor, Sentient Executive GP IV, Limited, managed by The Sentient Group for gross proceeds of $1,500,000 on August 29, 2012. The convertible note matures in 24 months and bears zero percent interest. The note can be converted into a share of the company at $0.235 per share. The company will not pay commission, interest, collateral or fees with respect to the transaction. The TSX Venture Exchange accepted for filing documents with respect to the transaction. The convertible debentures will be covertible into 6,312,804 shares of the company and will mature on September 1, 2014. Davies Ward Phillips & Vineberg LLP served as legal advisor to the investor.

On August 29, 2012, Andover Mining Corp. closed the transaction.