VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 02/14/13 -- Indigo Exploration Inc. (TSX VENTURE: IXI)(FRANKFURT: INE) has arranged a non-brokered private placement of 10,000,000 units priced at $0.05 per unit for total gross proceeds of $500,000. Each unit will be comprised of one common share and one warrant, with each warrant exercisable to acquire one additional common share for a period of one year, at an exercise price of $0.12 per share. The private placement will be subject to TSX Venture Exchange approval.
Proceeds of the private placement will be used for continuing to advance the Company's mineral exploration properties in Burkina Faso, for acquisition payments, and for general working capital.
The Company also announces that Dr. Thomas Henricksen has been appointed Vice President Exploration and director of the Company. Dr. Henricksen has a PhD in Economic Geology from Oregon State. Dr. Henricksen has extensive experience in gold and silver exploration, previously heading up the discovery and acquisitions of the Ollachea gold deposit (now IRL) and the Corani polymetallic silver deposit (now Bear Creek Mining Company) in Peru as a Consulting Geologist with Rio Tinto. He also served as the Chief Geologist at Norsemont Mining Inc., where he was involved with the acquisition and early exploration of the Constancia copper project that was recently sold to Hudson Bay Mining. Dr. Henricksen co-founded AQM Copper Inc. and served as the Chief Geologist where he recommended for acquisition and oversaw the early exploration program of the Zafranal porphyry copper project in Peru.
Dr. Henricksen states, "I am excited to join the Company as I believe it is poised to make the next major discovery in Burkina Faso. We have major land positions with significant undrilled soil/rock anomalies in the productive Early Proterozoic Birimian greenstone terrains."
On Behalf of the Board of Directors,
Paul Cowley, Interim CEO
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.
Indigo Exploration Inc.
Indigo Exploration Inc.
Most Popular Stories
- Study: Recessions Can Postpone Motherhood Forever
- Hispanic Entrepreneurs Short-changed in Texas
- Hispanics Carry Big Clout: Census
- Washington's 'The Equalizer' Debuts With $35 Million
- Effort to Oust Assad Put on Hold
- Qantas Puts World's Largest Plane on Longest Route
- Los Angeles Set to Host Small Business Summit
- Chicago Flight Delays: Questions Answered
- White House Intruder Got Farther Than Reported
- Jeb Bush: GOP Senate Would 'Fix a Few Things'