Indigo Closes Private Placement
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 09/02/11 -- Indigo Exploration Inc. (TSX VENTURE: IXI) is pleased to announce that, further to its news release of August 30, 2011, it has closed a private placement with a single purchaser of 3,275,000 Units at a price of $0.30 per Unit for gross proceeds of $982,500. Each Unit comprises one common share of Indigo (a 'Share') and one half of one non-transferable share purchase warrant. Each warrant (a 'Warrant') entitles the holder to purchase one additional common share of Indigo at a price of $0.50 per share for a period ending March 3, 2013. The Shares and any shares issued upon exercise of the Warrants will be subject to a hold period expiring at midnight on January 2, 2012.
In connection with the offering, the Company has paid a finder's fee to Topleft Securities Ltd. of Toronto. The finder's fee comprises a cash payment of $68,775 and non-transferable share purchase warrants (the 'Finder's Warrants') entitling the holder to acquire up to 229,250 common shares of Indigo at a price of $0.30 per share for a period ending March 3, 2013. The hold period for the securities issued pursuant to the Finder's Warrants is the same as that of the Warrants.
The gross proceeds from the offering will be used to incur exploration expenditures on Indigo's mineral properties in Burkina Faso and for general working capital purposes.
On Behalf of the Board of Directors,
R. Tim Henneberry, P.Geo., President and 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.
Contacts:
Indigo Exploration Inc.
Tim Henneberry
(604) 681-3422
www.indigoexploration.com