Indigo Exploration Arranges Non-Brokered Private Placement
July 07 2010 - 7:30AM
Marketwired
Indigo Exploration Inc. (TSX VENTURE: IXI) reports that it has
arranged a private placement financing of up to 2,000,000 units at
a price of $0.20 per unit, for gross proceeds of up to $400,000
(the "Offering"), subject to TSX Venture Exchange approval. Each
unit will consist of one common share of Indigo and one share
purchase warrant entitling the holder to purchase one additional
common share of Indigo at a price of $0.30 per share, for a period
of one year from the date of closing. If during the exercise period
of the Warrants the closing price of Indigo's shares is $0.45 per
share or higher for 20 consecutive trading days, the Company may
accelerate the expiry time of the Warrants to 20 calendar days from
the date written notice of same is provided to the holders.
Finders' fees may be payable in connection with the
Offering.
The proceeds of the Offering will be used to conduct exploration
activities on Indigo's properties in Burkina Faso and for working
capital.
On Behalf of the Board of Directors,
R.Tim Henneberry, P.Geo., President and CEO
Forward-Looking Statements
This press release contains forward-looking statements. All
statements, other than statements of historical fact, constitute
"forward-looking statements" and include any information that
addresses activities, events or developments that Indigo believes,
expects or anticipates will or may occur in the future including
Indigo's strategy, plans or future financial or operating
performance and other statements that express management's
expectations or estimates of future performance.
Forward-looking statements are generally identifiable by the use
of the words "may", "will", "should", "continue", "expect",
"anticipate", "estimate", "believe", "intend", "plan" or "project"
or the negative of these words or other variations on these words
or comparable terminology. All such forward-looking information and
statements are based on certain assumptions and analyses made by
Indigo's management in light of their experience and perception of
historical trends, current conditions and expected future
developments, as well as other factors management believes are
appropriate in the circumstances. These statements, however, are
subject to known and unknown risks, uncertainties and other factors
that may cause the actual results, level of activity, performance
or achievements of Indigo to be materially different from those
expressed, implied by or projected in the forward-looking
information or statements. Important factors that could cause
actual results to differ from these forward-looking statements
include but are not limited to: inability to enter into a final
binding agreement with respect to Sanu Burkina, risks related to
the exploration and potential development of Indigo's projects,
risks related to international operations, the conclusions of
economic evaluations, changes in project parameters as plans
continue to be refined, future prices of gold, as well as risk
factors discussed in certain of Indigo's continuous disclosure
documents filed on SEDAR.
There can be no assurance that any forward-looking statements
will prove to be accurate, as actual results and future events
could differ materially from those anticipated in such statements.
Accordingly, the reader should not place any undue reliance on
forward-looking information or statements. Except as required by
law, Indigo does not intend to revise or update these
forward-looking statements after the date of this document or to
revise them to reflect the occurrence of future unanticipated
events.
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.
Contacts: Indigo Exploration Inc. Tim Henneberry (604)
681-3422
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