/NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR
DISSEMINATION IN THE UNITED STATES/
VANCOUVER, June 18, 2013 /CNW/ - Cosigo Resources Ltd. (TSXV: CSG) today
announced the closing of a non-brokered private placement of 4,455,100
units at a price of $0.25 per unit, for total gross proceeds of
"Investors have oversubscribed to this non-brokered private placement.
Colombian and Brazilian investors have contributed more than one
quarter of the total. All investors in this private placement are
familiar with our project areas in the Taraira Gold Belt and we are
pleased by their show of confidence." said Dennis W. Milburn, President and CEO of Cosigo.
Each unit consists of one common share and one common share purchase
warrant. Each warrant entitles the holder to acquire for a period of
one year one additional common share of the company at a price of
The net proceeds of the private placement will be used by the company
for the reverse-circulation drilling program and continuing exploration
on its Machado Project in Colombia and for general corporate purposes.
No finder's fees were paid for this private placement. All securities
issued in the private placement will be subject to a four-month hold
period expiring October 17, 2013.
Machado Drill Program:
Reverse-circulation drilling has begun in the Cerro Rojo area of the
Machado Project. The drill holes are being sampled in five-foot
intervals which produce samples weighing approximately 20 kilograms
apiece. The entire sample will be moved off-site for drying, processing
and preparation for assay. Assaying will be carried out at ALS
Laboratories in North Vancouver. Assays are expected to be available
after the drilling program has been completed.
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 the 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 financings, 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 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
On behalf of the Board of Directors
Cosigo Resources Ltd.
President & CEO
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)