July 28, 2010 – Vancouver, British Columbia. Indigo Exploration Inc. (TSX-V: IXI) reports that it has closed a non-brokered private placement financing of 250,000 units at a price of $0.20 per unit, for gross proceeds of $50,000. There will be no further closings connected with the private placement. Each unit will consist of one common share of Indigo and one share purchase warrant entitling the holder to purchase one additional common share of Indigo at a price of $0.30 per share, for a period of one year from the date of closing. If during the exercise period of the warrants the closing price of Indigo’s shares is $0.45 per share or higher for 20 consecutive trading days, the Company may accelerate the expiry time of the warrants to 20 calendar days from the date written notice of same is provided to the holders.
In connection with the private placement, the Company has paid finder’s fees totalling $5,000 to certain finders and has issued 20,000 finder’s warrants. Each finder’s warrant entitles the holder to acquire one additional common share of the Company at a price of $0.30 per share, for a period of one year from the date of closing. If during the exercise period of the finder’s warrants the closing price of Indigo’s shares is $0.45 per share or higher for 20 consecutive trading days, the Company may accelerate the expiry time of the finder’s warrants to 20 calendar days from the date written notice of same is provided to the holders.
Securities issued pursuant to the private placement are subject to a four month hold until November 28, 2010.
The proceeds of the Offering will be used to conduct exploration activities on Indigo’s properties in Burkina Faso and for working capital.
On Behalf of the Board of Directors,
“R. Tim Henneberry”
R.Tim Henneberry, P.Geo.
President and CEO
For further information, please contact:
Tim Henneberry: (604) 681-3422
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.
This press release contains forward-looking statements. All statements, other than statements of historical fact, constitute “forward-looking statements” and include any information that addresses activities, events or developments that Indigo believes, expects or anticipates will or may occur in the future including Indigo’s strategy, plans or future financial or operating performance and other statements that express management’s expectations or estimates of future performance.
Forward-looking statements are generally identifiable by the use of the words “may”, “will”, “should”, “continue”, “expect”, “anticipate”, “estimate”, “believe”, “intend”, “plan” or “project” or the negative of these words or other variations on these words or comparable terminology. All such forward-looking information and statements are based on certain assumptions and analyses made by Indigo’s management in light of their experience and perception of historical trends, current conditions and expected future developments, as well as other factors management believes are appropriate in the circumstances. These statements, however, are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of Indigo to be materially different from those expressed, implied by or projected in the forward-looking information or statements. Important factors that could cause actual results to differ from these forward-looking statements include but are not limited to risks related to the exploration and potential development of Indigo’s projects, risks related to international operations, the conclusions of economic evaluations, changes in project parameters as plans continue to be refined, future prices of gold, as well as risk factors discussed in certain of Indigo’s continuous disclosure documents filed on SEDAR.
There can be no assurance that any forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader should not place any undue reliance on forward-looking information or statements. Except as required by law, Indigo does not intend to revise or update these forward-looking statements after the date of this document or to revise them to reflect the occurrence of future unanticipated events.