Indigo Exploration Inc. Announces Closing of Private Placement Offering
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES
OR FOR DISSEMINATION IN THE UNITED STATES
News Release
Indigo Exploration Inc. Announces Closing of Private Placement Offering
May 19, 2020 - Vancouver, British Columbia. Indigo Exploration Inc. (the “Company”) (TSX-V: IXI,
FSE: INE) is pleased to announce that it has closed the non-brokered private placement announced by the
Company on April 13, 2020 and May 8, 2020. The Company has issued 15,000,000 units (the “Units”) at
a price of $0.05 per Unit for gross proceeds of $ 750,000. Each Unit is comprised of one common share
and one share purchase warrant. Each warrant (a “Warrant”) entitles the holder to acquire one additional
share in the capital of the Company at a price of $0.10 until May 15, 2023. The Warrants are subject to an
acceleration clause should the common shares trade after September 16, 2020 at a price of $0.15 or greater
for 10 consecutive trading days, in which event management may notify warrantholders that the Warrants
must be exercised within a period of 30 days, or they will be cancelled.
In connection with the private placement, the Company has paid finder’s fees totaling $53,200 and issued
an aggregate of 1,064,000 finder’s warrants (the “Finders Warrants”). The Finders Warrants are subject
to the same terms and conditions as the Warrants.
The common shares comprising the Units and any shares issued upon the exercise of any Warrants are
subject to a hold period until September 16, 2020. Proceeds from the p rivate placement will be used to
carry out exploration programs on the Company’s Burkina Faso projects, the Djimbala project, and for
general working capital.
All securities issued in connection with the private placement have not been and will not be registered under
the U.S. Securities Act of 1933, as amended (the “1933 Act”), or under any state securities laws, and may
not be offered or sold, directly or indirectly, or delivered within the United States or to, or for the account
or benefit of, U.S. persons (as defined in Regulation S under the 1933 Act) abse nt registration or an
applicable exemption from the registration requirements. This news release does not constitute an offer to
sell or a solicitation to buy such securities in the United States.
On Behalf of the Board of Directors,
“Paul Cowley”
President and CEO
For further information, please contact Paul Cowley: (604) 340-7711 Website: indigoexploration.com
Neither the TSX Venture Exchange nor its Regulations 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 press release may contain 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 the Company believes, expects or anticipates will or may occur in
the future including the Company’s strategy, plans or future financial or operating performance and other
statements that express management’s expectations or estimates of future performance.