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Indigo Exploration Closes $1,325,444 Over-Subscribed Private Placement Financing
Vancouver, British Columbia--(Newsfile Corp. - March 31, 2025) - Indigo Exploration Inc. (TSXV: I...
About this update from Noble Plains Uranium Corp
[{"type":"text","content":"Indigo Exploration Closes $1,325,444 Over-Subscribed Private Placement FinancingVancouver, British Columbia--(Newsfile Corp. - March 31, 2025) - Indigo Exploration Inc. (TSXV: IXI) (OTCQB: IXIXF) (FSE: INE) (the \"Company\"), announces that it has closed its over-subscribed non-brokered private placement (the \"Offering\") previously announced on January 30, 2025, and extended March 13, 2025. The Company issued 22,090,737 Units (the \"Units\") at a price of $0.06/Unit for gross proceeds of $1,325,444.22. The Company paid a total of $88,434.10 in finder's fees and 1,473,902 non-transferable broker warrants at an exercise price of $0.10. Each Unit comprises one common share in the capital of the Company (\"Share\") and one transferable Share purchase warrant of the Company (\"Warrant\"), whereby each Warrant entitles the holder thereof to purchase one additional Share (\"Warrant Share\") at an exercise price of $0.10 at any time before 5:00 p.m. (Vancouver time) on March 31, 2027, being the second anniversary of the date of issuance.The Company expects to use the proceeds of the private placement to carry out exploration work on the Company's Hot Property, a uranium project located in the past producing Shirley Basin of Wyoming, and for general working capital purposes.Mr. Bradley Parkes, a director of the Company (the \"Insider\") participated in the Offering, purchasing 200,000 Units for gross proceeds of $12,000. Participation by the Insider in the Offering is considered \"related party transactions\" pursuant to Multilateral Instrument 61-101 - Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company is exempt from the requirements to obtain a formal valuation and minority shareholder approval in connection with the Insider's participation in the Offering, in reliance of sections 5.5(a) and 5.7(a) of MI 61-101, respectively, on the basis that participation in the Offering by the Insider did not exceed 25% of the fair market value of the Company's market capitalization. The Company did not file a material change report in respect of the related party transaction at least 21 days before the closing of the Offering, which the Company deems reasonable in the circumstances as the details of the participation by insider of the Company were not settled until shortly prior to closing of the Offering...