August 18, 2009 Antioquia Gold Announces Completion Of Shares For Debt Settlement
August 18, 2009, Calgary, Alberta: Antioquia Gold Inc. (TSX-V: AGD) is pleased to announce the completion of the previously announced shares for debt transaction, whereby AGD issued 3,955,030 common shares at a deemed price of $0.10 per share and 1,286,953 common share warrants to settle outstanding debt of $395,503.04. Each warrant entitles the holder to acquire one AGD common share at a price of $0.30 per share until July 25, 2011. In the course of this transaction written disinterested shareholder approval was obtained approving the settlement of debts owed to The AVOT Group, through which Mr. Richard Thibault provides his services as President and Chief Executive Officer of Antioquia, in the amount of $21,442.30 through the issue of 214,423 common shares of Antioquia at a deemed price of $0.10 per share, and the settlement of debts owed to Robert James, Chief Financial Officer of Antioquia, in the amount of $50,000.00 through the issue of 500,000 common shares of Antioquia at a deemed price of $0.10 per share.
AGD is a Calgary based mineral exploration company focused on searching out precious metals and other mineral opportunities in Colombia. AGD's principal asset is its Cisneros Project, located 70 kilometers northeast of Medellin in the Department of Antioquia, Colombia.
Caution regarding forward looking information
This press release may contain forward-looking statements. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of AGD to be materially different from actual future results and achievements expressed or implied by such forward looking statements. . Actual results can differ materially from those anticipated by management at the time of writing due to many factors, the majority of which are beyond the control of AGD and its management. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date the statements were made. Readers are also advised to consider such forward-looking statements while considering the risks involved.
Rick Thibault, President
Antioquia Gold Inc.
Robert James, Chief Financial Officer
Antioquia Gold Inc.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.