November 04, 2009 Antioquia Gold Amends Agreement to Acquire Mining Concessions in Colombia
November 4, 2009, Calgary, Alberta: Antioquia Gold Inc. (TSX-V: AGD) announces that it has amended the purchase agreement, previously announced on October 17, 2008, and on April 17, 2009, with Bullet Holding Corp. ("BHC"), a private company with a large portfolio of mining concessions in Colombia, to acquired a 90% interest in two concessions, totaling 5,243 hectares, adjacent to AGD's existing Guayabito Property in the Cisneros area, of Antioquia, Colombia.
Subject to regulatory approvals, AGD will acquire up to 90% interest in the subject BHC concessions by October 9, 2010, in exchange for up to 1,062,500 AGD common shares and 531,250 AGD warrants, where each warrant entitles the holder to purchase one AGD common share at a price of $0.40 per share exercisable for 24 months from the date of issue, and, AGD is to fulfill US$ 2 million in exploration expenditures by October 9, 2010.
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.
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