Cosigo Resources announces non-brokered private placement


VANCOUVER, May 21, 2013 /CNW/ - Cosigo Resources Ltd. (TSXV: CSG) (the "Company") announces that it intends to complete a non-brokered private placement (the "Private Placement") of up to 4,000,000 units (the "Units") at a price of CDN$0.25 per Unit for gross proceeds to the Company of up to CDN$1,000,0000.  Each Unit will consist of one common share and one common share purchase warrant.  Each warrant will entitle the holder to acquire for a period of one year one additional common share of the Company at a price of CDN$0.50.

The net proceeds of the Private Placement will be used for a reverse-circulation drilling program and continuing exploration on its Machado Project in Colombia and for general corporate purposes. In connection with the Private Placement, the Company may pay finders' fees to certain arm's length finders in an amount equal to 5% of the proceeds from the sale of the Units.

The common shares and warrants comprising the Units will be subject to a four-month hold period in accordance with the policies of the TSX Venture Exchange and applicable securities legislation. The Private Placement remains subject to the approval of the TSX Venture Exchange.

About Cosigo Resources:

Cosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company exploring for gold deposits in Colombia and Brazil. Cosigo has assembled a strong team, well experienced in South America and in the exploration and mining-finance industries. The Company's flagship project is its 100% owned Machado Project in Taraira Gold Belt of southeastern Colombia where geological mapping and geochemical sampling have identified potentially gold-bearing strata over a strike-length of more than 20 km. Cosigo's ongoing work on the 9,973 hectare Machado Project is the first modern exploration program in an area known to have hosted more than 100 historic gold mining operations.

Cautionary Notice: This release may contain forward-looking statements regarding the Company's business or financial condition, including the proposed completion of financing, use of proceeds and exploration programs. Actual results could differ materially from those described in this news release as a result of factors, including, but not limited to the following: the timing and completion of financings, the actual use of proceeds, the timing, results and success of exploration and development programs, financial arrangements, the ability to obtain additional financing, developments in global resource markets, political developments, the timing of regulatory and environmental approvals, including receipt of the appropriate permits to commence drilling at the Machado project, and other factors. The Company cautions that these and similar statements involve risk and uncertainties, which could cause actual results to differ materially from those in the forward looking statement. Forward-looking statements are made in the context of information available as of the date stated. The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law.

On behalf of the Board of Directors,
Cosigo Resources Ltd.
/s/"Dennis Milburn"
President & CEO

This news release does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein in the United States. The securities described herein have not been and will not be registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States or to the account or benefit of a U.S. person absent an exemption from the registration requirements of such Act.

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 of this release.

SOURCE: Cosigo Resources Ltd.

For further information:

Cosigo Resources Ltd.
Dennis Milburn, President & CEO
Tel:  877-866-8688 (North America)
1-604-515-5970 (International)

Profil de l'entreprise

Cosigo Resources Ltd.

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