Home / Mining Company News Releases (Unreviewed) / Indigo Exploration Increases Non-Brokered Private Placement up to 7,683,333 Units

Indigo Exploration Increases Non-Brokered Private Placement up to 7,683,333 Units

Vancouver, British Columbia–(Newsfile Corp. – February 20, 2018) – Indigo Exploration Inc. (TSXV: IXI) (FSE: INE) (the “Company”) is pleased to announce that it has increased a non-brokered private placement (the “Offering”) previously announced on February 5, 2018 from up to 7,000,000 units (the “Units”) to up to 7,683,333 Units at a price of $0.03 per Unit for gross proceeds of up to $230,500. Each Unit is comprised of one common share and one share purchase warrant, each warrant entitling the holder to purchase one additional common share at a price of $0.05 per share for a period of three years from the date of issuance of the Units. All other terms and conditions of the Offering, as previously announced, will remain the same.

Assuming the Offering is fully subscribed, the Company plans to allocate the gross proceeds of the Offering to: (i) Burkina Faso General & Administration costs including: office, part-time salaries, land taxes and legal ($100,000); (ii) Head Office General & Administration costs including: accounting, audit, TSX-V fees, transfer agent, and annual general meeting ($75,000); (iii) Extraordinary costs related to maintaining the Hantoukoura title including: travel expenses, legal costs, and additional advocacy support personnel in Burkina Faso ($40,000) and (iv) Offering costs including: finders fees and regulatory filing fees ($15,000).

There is no minimum subscription amount. The Company may pay finder’s fees on a portion of the Offering in accordance with applicable securities laws and the policies of the TSX Venture Exchange (the “Exchange”).

The Offering is subject to receipt of approval of the Exchange. The securities issued pursuant to the Offering will be subject to a four month and one day statutory hold period.

On Behalf of the Board of Directors,

Paul Cowley

President and CEO

For further information, please contact:
Paul Cowley
: (604) 340-7711
Website: www.indigoexploration.com

Neither the TSX Venture Exchange nor its Regulations Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for the adequacy or accuracy of this release.

 

Disclaimer: This is an unedited and minimally reviewed public mining company press release originally published at http://www.newsfilecorp.com/release/32914/Indigo-Exploration-Increases-NonBrokered-Private-Placement-up-to-7683333-Units. We have linked to our knowledge base articles from within the content of this release in order to help explain some of the terminology used and provide continuity from previous and related news coverage. You can access more in-depth mining company project reviews on our site, as well a knowledge base of articles on mineral exploration, mining and geology-related topics.

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