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Indigo Exploration Announces Non-Brokered Private Placement of up to 7,000,000 Units
Vancouver, British Columbia--(Newsfile Corp. - February 5, 2018) - Indigo Exploration Inc.(TSX...
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[{"type":"text","content":"Indigo Exploration Announces Non-Brokered Private Placement of up to 7,000,000 UnitsVancouver, British Columbia--(Newsfile Corp. - February 5, 2018) - Indigo Exploration Inc.(TSXV: IXI) (FSE: INE) (the \"Company\") is pleased to announce a non-brokered private placement (the \"Offering\") of up to 7,000,000 units (the \"Units\") of the Company at a price of $0.03 per Unit for gross proceeds of up to $210,000. 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.The Offering will be conducted pursuant to available prospectus exemptions including sales to accredited investors, family members, close friends and business associates of directors and officers of the Company, to purchasers who have obtained suitability advice from a registered investment dealer pursuant to the exemption set out in BC Instrument 45-536 (Exemption from prospectus requirement for certain distributions through an investment dealer) and to existing shareholders of the Company pursuant to the exemption set out in British Columbia Securities Commission BC Instrument 45- 534 (Exemption from prospectus requirement for certain trades to existing security holders) (the \"Existing Shareholder Exemption\"). There is no minimum Offering size and the maximum offering is 7,000,000 units for gross proceeds of $210,000. 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 ($95,000); (ii) Head Office General & Administration costs including: accounting, audit, TSX-V fees, transfer agent, and annual general meeting ($60,000); (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). If the Offering is not fully subscribed, the Company will apply the proceeds to the above uses in priority and in such proportions as the Board of Directors and management of the Company determine is in the best i...