Business
Cosigo Resources Ltd. Closes $1,113,775 Private Placement
/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNI...
About this update from Cosigo Resources Limited
[{"type":"text","content":"\n\n\n/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR\n DISSEMINATION IN THE UNITED STATES/\n\n\nVANCOUVER, June 18, 2013 /CNW/ - Cosigo Resources Ltd. (TSXV: CSG) today\n announced the closing of a non-brokered private placement of 4,455,100\n units at a price of $0.25 per unit, for total gross proceeds of\n $1,113,775.\n\n\n\"Investors have oversubscribed to this non-brokered private placement.\n Colombian and Brazilian investors have contributed more than one\n quarter of the total. All investors in this private placement are\n familiar with our project areas in the Taraira Gold Belt and we are\n pleased by their show of confidence.\" said Dennis W. Milburn, President and CEO of Cosigo.\n\n\nEach unit consists of one common share and one common share purchase\n warrant. Each warrant entitles the holder to acquire for a period of\n one year one additional common share of the company at a price of\n $0.50.\n\n\nThe net proceeds of the private placement will be used by the company\n for the reverse-circulation drilling program and continuing exploration\n on its Machado Project in Colombia and for general corporate purposes.\n No finder's fees were paid for this private placement. All securities\n issued in the private placement will be subject to a four-month hold\n period expiring October 17, 2013.\n\n\nMachado Drill Program:\nReverse-circulation drilling has begun in the Cerro Rojo area of the\n Machado Project. The drill holes are being sampled in five-foot\n intervals which produce samples weighing approximately 20 kilograms\n apiece. The entire sample will be moved off-site for drying, processing\n and preparation for assay. Assaying will be carried out at ALS\n Laboratories in North Vancouver. Assays are expected to be available\n after the drilling program has been completed.\n\n\nAbout Cosigo Resources:\nCosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company\n exploring for 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 100% owned Machado Project in the Taraira Gold Belt of\n southeastern Colombia where geological mapping and geochemical sampling\n have identified potentially gold-bearing strata over a strike-length of\n more than 20 km. C...