Non-brokered deal to fund exploration of Burkina Faso, Africa projects
By Devika Patel
Knoxville, Tenn., Dec. 15 - Indigo Exploration Inc. said it will conduct a non-brokered private placement of units. The deal will raise C$2.1 million.
The company will sell 7 million units at C$0.30 apiece. Each unit consists of one common share and one half-share warrant.
Each whole warrant will be exercisable at C$0.50 for 18 months. The strike price reflects a 23.46% premium to the Dec. 14 closing share price of C$0.405.
Settlement is expected Jan. 10.
Proceeds will be used to accelerate and increase the scope and size of exploration activities on Indigo's gold exploration properties in Burkina Faso, Africa, primarily on the Moule, Lati and Kodyel permits, and for general working capital.
The natural resource company is based in Vancouver, B.C.
| Issuer: | Indigo Exploration Inc.
|
| Issue: | Units of one common share and one half-share warrant
|
| Amount: | C$2.1 million
|
| Units: | 7 million
|
| Price: | C$0.30
|
| Warrants: | One half-share warrant per unit
|
| Warrant expiration: | 18 months
|
| Warrant strike price: | C$0.50
|
| Agent: | Non-brokered
|
| Pricing date: | Dec. 15
|
| Settlement date: | Jan. 10
|
| Stock symbol: | TSX Venture: IXI
|
| Stock price: | C$0.405 at close Dec. 14
|
| Market capitalization: | C$7.52 million
|
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