Business
Cosigo Resources Announces Non-Brokered Private Placement
TSX-V: CSG-NR #11-05 Not for distribution to United States Newswire Services or for D...
About this update from Cosigo Resources Limited
[{"type":"text","content":"\n\n\n\n\n\nTSX-V: CSG-NR #11-05 \n\n\nNot for distribution to United States Newswire Services or for\n Dissemination in the United States\n\n\nVANCOUVER, Aug. 5, 2011 /CNW/ - Cosigo Resources Ltd. (formerly Horseshoe Gold Mining Inc.) (TSXV:CSG) (the \"Company\") announced today that it is conducting a non-brokered private\n placement (the \"Private Placement\") of up to US$500,000. Cosigo proposes to issue up to 1,000,000 units (the \"Units\") at a price of US$0.50 per Unit. Each of the Units will consist of\n one common share and one common share purchase warrant. Each warrant will entitle the holder to acquire, for a period of two years,\n one additional common share of the Company at a price of US$1.00 during\n the first year following the closing of the Private Placement and\n US$1.25 during the second year.\n\n\nIn connection with the Private Placement, Cosigo may pay finders' fees\n to certain finders in an amount equal to 5% of the proceeds from the\n sale of the Units.\n\n\nThe net proceeds of the non-brokered Private Placement will be used to\n advance a drilling program at the Company's primary project, located in\n the Taraira Gold Belt in southeastern Colombia, and for general working\n capital purposes.\n\n\nThe common shares and warrants comprising the Units will be subject to a\n four-month hold period in accordance with the policies of the TSX\n Venture Exchange and applicable securities legislation.\n\n\nThe Private Placement remains subject to the approval of the TSX Venture\n Exchange.\n\n\nAbout Cosigo Resources:\n\n\nCosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company\n exploring for economic gold deposits in Colombia and Brazil. Cosigo has\n assembled a strong team, well experienced in South America and in the\n exploration and mining-finance industries. The Company's flagship\n project is its primary project in the Taraira Gold Belt of southeastern\n Colombia. Cosigo's ongoing work on the 9,973 hectare primary project is\n the first modern exploration program in an area known to have hosted\n more than 100 historic gold mining operations.\n\n\nThis issue is being subscribed to by Colombian and Brazilian investors\n who have closely followed the processes of forestry subtraction and\n native prior consults on the primary project. These processes have been\n completed and the Company is awaitin...