IXI Indigo Explorations Inc

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES


Indigo Exploration Inc. ("Indigo" or the "Company") (TSX VENTURE:IXI) reports
that it has closed a non-brokered private placement of 7,663,666 Units, at a
price of $0.30 per Unit, for gross proceeds of $2,299,100. Each Unit consists of
one common share and one-half of one common share purchase warrant (each whole
such warrant a "Warrant"). Each Warrant will entitle the holder to purchase one
common share of the Company until July 24, 2012, at an exercise price of $0.50
per common share. If during the exercise period of the Warrants, subsequent to
the regulatory hold period, the closing price of Indigo's common shares on the
TSX Venture Exchange is $0.75 or higher for 20 consecutive trading days, the
Company may accelerate the expiry time of the Warrants to 20 calendar days from
the date written notice is provided to the Warrant holders.


In connection with the private placement, the Company has paid finder's fees
totalling $42,887.50 in cash; 237,557 Units, and 376,515 finder's warrants. Each
finder's warrant is exercisable into one common share of the Company at a price
of $0.35 per share until July 24, 2012.


Securities issued under the Offering will be subject to a four month hold
period, which will expire May 25, 2011.


The proceeds from the Offering 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 purposes.


For additional information please visit the Company's website at
www.indigoexploration.com. 


The Units have not been registered under the United States Securities Act of
1933, as amended (US Securities Act), and may not be offered or sold in the
United States absent registration or an applicable exemption from registration
requirements. This news release does not constitute an offer to sell or a
solicitation of an offer to buy such Units in any jurisdiction in which such an
offer or sale would be unlawful.


Certain statements in this press release may be considered forward-looking
information, including those relating to the "expectations", "intentions" or
"plans" of the Company. Such information involves known and unknown risks,
uncertainties and other factors - including the approvals of regulators,
availability of funds, the results of financing and exploration activities, the
interpretation of drilling results and other geological data, project cost
overruns or unanticipated costs and expenses and other risks identified by the
Company in its public securities filings - that may cause actual events to
differ materially from current expectations. Readers are cautioned not to place
undue reliance on these forward-looking statements, which speak only as of the
date of this press release. The Company disclaims any intention or obligation to
update or revise any forward-looking statements, except to the extent required
by law, whether as a result of new information, future events or otherwise.

Indigo Explorations (TSXV:IXI)
Historical Stock Chart
From Dec 2024 to Jan 2025

Indigo Explorations (TSXV:IXI)
Historical Stock Chart
From Jan 2024 to Jan 2025