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,
President and CEO
For further information, please contact:
Paul Cowley: (604) 340-7711
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.