Antioquia Gold Inc. Closes Non-brokered Private Placement
CALGARY, ALBERTA--(Marketwire - Feb. 19, 2013) - Antioquia Gold Inc. ("Antioquia Gold" or the "Company") (TSX VENTURE:AGD) (OTCQX:AGDXF) announces closing of a non-brokered private placement for aggregate proceeds of $250,000 via the issuance of 2,083,334 units (the "Units") at a price of $0.12 per Unit (the "Offering"). Each Unit consists of one common share in the share capital of the Company ("Common Shares") and one-half of one common share purchase warrant of the Company ("Warrants"). Each whole Warrant will entitle the holder thereof to purchase one additional Common Share at a price of $0.25 per share for a period of six (6) months from the date of issuance.
The cash proceeds from the Offering will be added to the working capital and thereby be used to fund ongoing work on the Company's Cisneros project in Colombia.
Securities issued under the Offering will have a four month statutory hold period and completion of the Offering is subject to approval from the TSX Venture Exchange.
About Antioquia Gold Inc.
Antioquia Gold has been exploring for precious metals in Colombia since 2007 where its current holdings are close to 40,000 hectares located throughout Colombia. Antioquia's principal asset, which is being actively explored, is its 5,630 hectare Cisneros Project, located 55 km northeast of Medellin in the Department of Antioquia, Colombia. Extensive geochemical and geophysical programs over the entire Cisneros property have identified six exploration targets to date. On the original discovery zone, the Company has drilled over 30,000 metres and is well versed in the understanding of the deposit type and the project's path to resource definition and production.
On behalf of Antioquia Gold Inc. Felix Navarro-Grau Hurtado, Chairman of the Board
For further information on Antioquia Gold Inc., visit our website at www.antioquiagoldinc.com.
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Statements in this press release may contain forward-looking information including, statements regarding the expected use of proceeds from the Placement. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of Antioquia Gold. The reader is cautioned not to place undue reliance on any forward-looking information. There can be no assurance that the proposed exploration programs in Colombia or other project acquisitions will be completed or, if completed, will be successful.
The forward-looking statements contained in this press release are made as of the date of this press release, and Antioquia Gold does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.
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Antioquia Gold Inc.