-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, NdGlrWlOZbDfAfq/BgJPEE4jRIF3FuZ2V/0JB9yGXAtovEGZxFNhnkL1rsSB4wU8 g18oqGJTLEnTyGzCsKhAsw== 0000893877-98-000522.txt : 19980723 0000893877-98-000522.hdr.sgml : 19980723 ACCESSION NUMBER: 0000893877-98-000522 CONFORMED SUBMISSION TYPE: SC 13D PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 19980721 SROS: NONE GROUP MEMBERS: JOAN DEGERSTROM GROUP MEMBERS: N A DEGERSTROM INC GROUP MEMBERS: NEAL A. DEGERSTROM SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: MINERA ANDES INC /WA CENTRAL INDEX KEY: 0001030219 STANDARD INDUSTRIAL CLASSIFICATION: MISCELLANEOUS METAL ORES [1090] IRS NUMBER: 000000000 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D SEC ACT: SEC FILE NUMBER: 005-52633 FILM NUMBER: 98669295 BUSINESS ADDRESS: STREET 1: 3303 N SULLIVAN RD CITY: SPOKANE STATE: WA ZIP: 99216 BUSINESS PHONE: 5099217322 MAIL ADDRESS: STREET 1: 3303 NORTH SULLIVAN RD CITY: SPOKANE STATE: WA ZIP: 99216 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: N A DEGERSTROM INC CENTRAL INDEX KEY: 0001066012 STANDARD INDUSTRIAL CLASSIFICATION: [] IRS NUMBER: 910698638 STATE OF INCORPORATION: WA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13D BUSINESS ADDRESS: STREET 1: P O BOX 425 CITY: SPOKANE STATE: WA ZIP: 99210 BUSINESS PHONE: 5099283333 MAIL ADDRESS: STREET 1: P O BOX 425 CITY: SPOKANE STATE: WA ZIP: 99210 SC 13D 1 SCHEDULE 13D OMB APPROVAL OMB Number: 3235-0145 Expires: August 31, 1999 Estimated average burden hours per response........14.90 ------------------------------- UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13D Under the Securities Exchange Act of 1934 (Amendment No. __)* Minera Andes Inc. - -------------------------------------------------------------------------------- (Name of Issuer) Common Stock - -------------------------------------------------------------------------------- (Title of Class of Securities) 602910101 - -------------------------------------------------------------------------------- (CUSIP Number) Allen V. Ambrose, 3303 N Sullivan Road, Spokane, WA 99216 - -------------------------------------------------------------------------------- (Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications) June 20, 1997 - -------------------------------------------------------------------------------- (Date of Event which Requires Filing of this Statement) If the filing person has previously filed a statement on Schedule 13G to report the acquisition which is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(b)(3) or (4), check the following box. [ ] Note: Six copies of this statement, including all exhibits, should be filed with the Commission. See Rule 13d- 1(a) for other parties to whom copies are to be sent. * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of Act but shall be subject to all other provisions of the Act (however, see the Notes). 1 of 9 CUSIP No. 602910101 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). N. A. Degerstrom, Inc., 91-0698638 ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) ------------------------------------------------------------- (b) X ------------------------------------------------------------- - -------------------------------------------------------------------------------- 3. SEC Use Only ---------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) OO ----------------------------- - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) ---------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization Washington --------------------------- - -------------------------------------------------------------------------------- 7. Sole Voting Power 5,000,000 -------------------------------------- Number of ----------------------------------------------------------------- Shares 8. Shared Voting Power Beneficially ------------------------------------- Owned by ----------------------------------------------------------------- Each 9. Sole Dispositive Power Reporting ---------------------------------- Person With ----------------------------------------------------------------- 10. Shared Dispositive Power -------------------------------- - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 5,000,000 ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) X --------------------------------------------- - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 26% -------------- - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) CO ----------------------------------------------------------------- 2 of 9 CUSIP No. 602910101 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Neal A. Degerstrom ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) ------------------------------------------------------------- (b) X ------------------------------------------------------------- - -------------------------------------------------------------------------------- 3. SEC Use Only --------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF ----------------------------- - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) --------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization USA --------------------------- - -------------------------------------------------------------------------------- 7. Sole Voting Power -------------------------------------- Number of ----------------------------------------------------------------- Shares 8. Shared Voting Power 5,000,000 Beneficially ------------------------------------- Owned by ----------------------------------------------------------------- Each 9. Sole Dispositive Power Reporting ---------------------------------- Person With ----------------------------------------------------------------- 10. Shared Dispositive Power 5,000,000 -------------------------------- - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 5,000,000 ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) X --------------------------------------------- - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 26% ------------- - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN ----------------------------------------------------------------- 3 of 9 CUSIP No. 602910101 - -------------------------------------------------------------------------------- 1. Names of Reporting Persons. I.R.S. Identification Nos. of above persons (entities only). Joan Degerstrom ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 2. Check the Appropriate Box if a Member of a Group (See Instructions) (a) ------------------------------------------------------------ (b) X ------------------------------------------------------------ - -------------------------------------------------------------------------------- 3. SEC Use Only --------------------------------------------------- - -------------------------------------------------------------------------------- 4. Source of Funds (See Instructions) AF ----------------------------- - -------------------------------------------------------------------------------- 5. Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) --------------------------------------------- - -------------------------------------------------------------------------------- 6. Citizenship or Place of Organization USA --------------------------- - -------------------------------------------------------------------------------- 7. Sole Voting Power -------------------------------------- Number of ----------------------------------------------------------------- Shares 8. Shared Voting Power 5,000,000 Beneficially ------------------------------------- Owned by ----------------------------------------------------------------- Each 9. Sole Dispositive Power Reporting ---------------------------------- Person With ----------------------------------------------------------------- 10. Shared Dispositive Power 5,000,000 -------------------------------- - -------------------------------------------------------------------------------- 11. Aggregate Amount Beneficially Owned by Each Reporting Person 5,000,000 ----------------------------------------------------------------- - -------------------------------------------------------------------------------- 12. Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) X --------------------------------------------- - -------------------------------------------------------------------------------- 13. Percent of Class Represented by Amount in Row (11) 26% ------------- - -------------------------------------------------------------------------------- 14. Type of Reporting Person (See Instructions) IN ----------------------------------------------------------------- 4 of 9 Item 1. Security and Issuer This Statement relates to Common Stock (the "Common Stock"), of Minera Andes Inc., a corporation organized under the laws of Alberta, Canada ("Minera Andes"). Minera Andes' principal executive offices are located at 3303 N. Sullivan Road, Spokane, Washington 99216. Item 2. Identity and Background This Statement is filed by N.A. Degerstrom, Inc. ("Degerstrom"), a corporation organized under the laws of the State of Washington, Neal A. Degerstrom, President of Degerstrom, and Joan Degerstrom, Vice-President of Degerstrom, each of whose business address is 3303 N. Sullivan Road, Spokane, Washington 99216. Degerstrom's principal business is contract mining and operation of its own independently owned mines and mines in joint venture with other mining companies. During the past five years, neither Degerstrom, Neal A. Degerstrom nor Joan Degerstrom has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), and none of them have been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws. Set forth below are the names, principal occupations and citizenship of the executive officers and directors of Degerstrom. Except as otherwise noted below, the business address of each of the executive officers and directors of Degerstom is 3303 N. Sullivan Road, Spokane, Washington 99216, and each executive officer and director is a citizen of the United States of America. During the past five years, none of the executive officers or directors has been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors), or been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
Name Principal Occupation Citizenship Position with Degerstrom - ---- -------------------- ----------- ------------------------ Neal A. Degerstrom President of Degerstrom USA President; Director Joan Degerstrom Vice President of Degerstrom USA Vice-President; Director Armand Hansen Vice President of Degerstrom USA Vice President; Director Michael Cannon Secretary/Treasurer of USA Secretary/Treasurer Degerstrom Richard Stager Vice President -- Engineering of USA Vice President -- Engineering Degerstrom James Fish Vice President -- General USA Vice President -- General Counsel of Degerstrom Counsel
Item 3. Source and Amount of Funds or Other Consideration Pursuant to an Asset and Share Acquisition Agreement (the "Acquisition Agreement") dated March 8, 1995, by and among Degerstrom, Minera Andes, Brian Gavin, Jorge Vargas, Enrique Rufino Marzari Elizalde, Minera Andes S.A., and NAD S.A., Degerstrom acquired 4,000,000 shares of Minera Andes common stock, and the right to receive 1,213,409 shares of Minera Andes common stock upon the satisfaction of certain performance criteria (the "Performance Right"), in exchange for the shares of Minera Andes S.A. and NAD S.A. owned by Degerstrom. On January 11, 1996, Minera Andes and Degerstrom also entered into a subscription agreement whereby Degerstrom subscribed for 500,000 units of Minera Andes at a price of CDN $1.44 per unit. Each unit consisted of one share of the Minera Andes common stock and a warrant to purchase an additional share at a price of CDN $1.75. On July 8, 1996, Degerstrom received 500,000 units from the Corporation and exercised the 5 of 9 500,000 warrants. The source of the funds used in purchasing the units and exercising the warrants was the forgiveness of debts owed to Degerstrom by Minera Andes for the provision of services. Item 4. Purpose of Transaction The acquisition of Minera Andes' common stock by Degerstrom was in consideration of the sale of certain of Degerstrom's Argentine mineral properties to Minera Andes, and for the forgiveness of debt owed to Degerstrom by Minera Andes. Except as otherwise disclosed in this Statement, Degerstrom does not have any plans or proposals that relate to or would result in any of the following: (a) The acquisition by any person of additional securities of the Company, or the disposition of securities of the Company; (b) An extraordinary corporate transaction, such as a merger, reorganization or liquidation, involving the Company or any of its subsidiaries; (c) A sale or transfer of a material amount of assets of the Company or any of its subsidiaries; (d) Any change in the present board of directors or management of the Company, including any plans or proposals to change the number or term of directors or to fill any existing vacancies on the board; (e) Any material change in the present capitalization or dividend policy of the Company; (f) Any other material change in the Company's business or corporate structure; (g) Changes in the Company's charter, bylaws or instruments corresponding thereto or other actions which may impede the acquisition of control of the Company by any person; (h) Causing a class of securities of the Company to be delisted from a national securities exchange or to cease to be authorized to be quoted in an inter-dealer quotation system of a registered national securities association; (i) A class of equity securities of the Company becoming eligible for termination of registration pursuant to Section 12(g)(4) of the Securities Exchange Act of 1934, as amended; or (j) Any action similar to those enumerated above. Item 5. Interest in Securities of the Issuer (a) - (b) The following chart and accompanying notes state the aggregate number and percentage of shares of Minera Andes common stock beneficially owned and with respect to which the persons identified in Item 2 have power, sole or shared, to vote or direct disposition:
Shares over Shares over Shares over Shares over which there is which there is Shares which there is which there is sole power to shared power Party identified beneficially Percentage sole power to shared power to direct to direct in Item 2 owned (#) of class vote (#) vote (#) disposition (#) disposition (#) ---------------- ------------ ---------- -------------- --------------- --------------- --------------- N.A. 5,000,000 (1) 26 5,000,000 0 5,000,000 0 Degerstrom, Inc. Neal A. 5,000,000 (1)(2) 26 0 5,000,000 0 5,000,000 Degerstrom 6 of 9 Joan Degerstrom 5,000,000 (1)(2) 26 0 5,000,000 0 5,000,000 - --------------- Notes: (1) Does not include 1,213,409 shares issuable pursuant to the Performance Right. (2) Shares are beneficially owned by virtue of control of N.A. Degerstrom, Inc., which controlling shares are held jointly by Neal A. Degerstrom and Joan Degerstrom as husband and wife.
(c) Not applicable. (d) Not applicable. (e) Not applicable. Item 6. Contracts, Arrangements, Understandings or Relationships with Respect to Securities of the Issuer Pursuant to the Acquisition Agreement, Minera Andes is obligated to issue to Degerstrom up to 1,213,409 shares of its common stock if any of the mining properties transferred to Minera Andes under the terms of the Acquisition Agreement reach Bankable Feasability (as that term is defined in the Acquisition Agreement). 1,333,334 of Degerstrom's shares of Minera Andes common stock are held in escrow pursuant to an Escrow Agreement (the "Escrow Agreement") dated November 30, 1995 between Degerstrom, Minera Andes and Montreal Trust Company of Canada. The shares subject to the Escrow Agreement will be released from escrow at an earn-out rate of CDN$0.375 per share of deferred expenditure by Degerstrom (as defined in the Escrow Agreement). Item 7. Material to be Filed as Exhibits The following documents are filed as exhibits: 7.1 Asset and Share Acquisition Agreement between Minera Andes S.A., NAD S.A., Minera Andes, Degerstrom, Brian Gavin, Jorge Vargas and Enrique Rufino Marzari Elizalde, dated March 8, 1995, as amended on April 19, 1996. (Incorporated by reference to Exhibit 2.1 of Minera Andes Registration Statement on Form 10- SB (SEC File No. 000-22731)). 7.2 Escrow Agreement between Minera Andes, Degerstrom and Montreal Trust Company of Canada, dated November 30, 1995. (Incorporated by reference to Exhibit 10.16 of Minera Andes Registration Statement on Form 10-SB (SEC File No. 000-22731)). 7 of 9 Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: July 21, 1998 N.A. DEGERSTROM, INC. By: NEAL A. DEGERSTROM ------------------------------------ Neal A. Degerstrom, President NEAL A. DEGERSTROM ------------------------------------ Neal A. Degerstrom JOAN DEGERSTROM ------------------------------------ Joan Degerstrom 8 of 9 EXHIBIT INDEX Sequential Exhibit No. Description 7.1 Asset and Share Acquisition Agreement between Minera Andes S.A., NAD S.A., Minera Andes, Degerstrom, Brian Gavin, Jorge Vargas and Enrique Rufino Marzari Elizalde, dated March 8, 1995, as amended on April 19, 1996. (Incorporated by reference to Exhibit 2.1 of Minera Andes Registration Statement on Form 10- SB (SEC File No. 000-22731)). 7.2 Escrow Agreement between Minera Andes, Degerstrom and Montreal Trust Company of Canada, dated November 30, 1995. (Incorporated by reference to Exhibit 10.16 of Minera Andes Registration Statement on Form 10-SB (SEC File No. 000-22731)). 9 of 9 -----END PRIVACY-ENHANCED MESSAGE-----