November 07, 2013 Antioquia Gold Announces Private Placement of Units
November 7, 2013, Calgary Alberta: Antioquia Gold Inc. ('Antioquia Gold" or the "Company") (TSX-V: AGD; OTCQX: AGDXF) is announces that further to its press release dated August 29, 2013 and in light of current market conditions, the Company will be undertaking a non-brokered private placement of units (each a "Unit") at $0.05 per Unit for aggregate gross proceeds of $1,000,000. Each Unit shall consist of one common share and one common share purchase warrant exercisable at $0.05 for a period of 18 months from the date of issuance of the Units. The Company may pay a finder's fee in cash for up to 6% of the gross proceeds of the private placement. It is expected that the proceeds raised from the financing will be used for debt repayment, general working capital and to complete key studies in the advancement of the Company's flagship Cisneros project. The Company had previously announced a resource estimate for the Cisneros project and a copy of the National Instrument 43-101 compliant resource report on the project is available under the Company's profile on SEDAR at www.sedar.com.
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. At the Cisneros Project the Company has conducted extensive geochemical and geophysical programs over the entire property and has identified to date eleven (11) exploration z ones. On the original discovery zone it has drilled over 45,000 metres and is well versed in the understanding of the deposit type and the project's path to resource definition and production.
Neither the 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.
This news release contains certain forward-looking statements, including any plans regarding the expected used of proceeds from the financing. Forward-looking statements are based on management's current assumptions and are subject to risks and uncertainties. There can be no assurance that any forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information due to a number of factors beyond the Company's control. These assumptions, risks and uncertainties include, among other things, management's assumptions about government permitting, equipment procurement and the availability of the necessary consultants and capital, as well as the risks of delay in any of these activities and the risks inherent in Antioquia Gold's operations, including the risks that the Company may not find any minerals in commercially feasible quantity or raise enough money to continue to fund its exploration plans. These and other risks are described in the Company's public disclosure documents filed on the SEDAR website maintained by the Canadian Securities Administrators. The Company does not undertake to update any forward-looking information except as may be required by applicable securities laws.