Indigo Exploration Arranges $982,500 Private Placement Financing With One of the Largest Precious Metals Mutual Funds in Cana...
30 Agosto 2011 - 7:30AM
Marketwired
Indigo Exploration Inc. (TSX VENTURE: IXI)(FRANKFURT: INE) is
pleased to announce that it has arranged a non-brokered private
placement of 3,275,000 units of the Company (the "Units") at a
price of $0.30 per Unit for gross proceeds of $982,500 with one of
the largest precious metals mutual funds in Canada. Each Unit will
consist of one common share and one-half of one common share
purchase warrant ("Warrant"). Each full Warrant will entitle the
holder to purchase one common share of the Company for a period of
eighteen months from the closing date, at an exercise price of
$0.50 per common share. The purchase price was set at a 10-per-cent
premium over the 30-day volume-weighted-average market price prior
to this announcement.
The Company will pay finder's fees equal to 7.0% of subscription
amounts located by Topleft Securities Ltd., payable in cash, plus
issue finder's warrants in an amount equal to 7.0% of Units
subscribed for, with each such finder's warrant exercisable into
one common share of the Company at a price of CDN $0.30 for 18
months from closing.
Closing of the Offering is anticipated to be on or about
September 9, 2011, subject to receipt of applicable regulatory
approvals including approval of the TSX Venture Exchange.
Securities issued under the Offering will be subject to a four
month hold period, which will expire four months from the date of
closing.
The proceeds from the Offering will be used to incur exploration
expenditures on the Company's mineral properties in Burkina Faso
and for general working capital.
Upon the closing of the financing, this mutual fund will own
almost 10% of the shares of the Company on an undiluted basis.
Tim Henneberry, Indigo President and CEO, stated, "Indigo's
Board of Directors are very encouraged by this strategic investment
at this stage in Indigo's development, as it reflects a high level
of confidence in the Company's high-grade Moule Vein 3 gold
discovery and the upcoming 15,000 metre drilling program in Burkina
Faso."
For additional information please visit the Company's website at
www.indigoexploration.com.
Certain statements in this press release may be considered
forward-looking information, including those relating to the
"expectations", "intentions" or "plans" of the Company. Such
information involves known and unknown risks, uncertainties and
other factors -- including the approvals of regulators,
availability of funds, the results of financing and exploration
activities, the interpretation of drilling results and other
geological data, project cost overruns or unanticipated costs and
expenses and other risks identified by the Company in its public
securities filings -- that may cause actual events to differ
materially from current expectations. Readers are cautioned not to
place undue reliance on these forward-looking statements, which
speak only as of the date of this press release. The Company
disclaims any intention or obligation to update or revise any
forward-looking statements, except to the extent required by law,
whether as a result of new information, future events or
otherwise.
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: Indigo Exploration Inc. Tim Henneberry President and
CEO 604-681-3422 thenneberry@indigoexploration.com
www.indigoexploration.com
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