CALGARY, ALBERTA--(Marketwired - May 8, 2013) - Antioquia Gold Inc. (the "Company") (TSX VENTURE:AGD)(AGDXF) is pleased to announce the first tranche closing of its previously-announced non-brokered private placement (the "Offering"), raising aggregate gross proceeds of $150,500 via the issuance of 4,300,000 common shares at a price of $0.035 per common share. The Company is pleased to report that it has received great interest for the Offering and expects that the remainder of the Offering amount (being $349,500) will be subscribed for in the next week. All of the proceeds from the first tranche closing will be used by the Company to pay a portion of its current outstanding payables.
The Offering is subject to receipt of all necessary regulatory approvals.
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 zones. 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.
On behalf of Antioquia Gold Inc.
Fernando Jaramillo, President & CEO
Statements in this press release may contain forward-looking information including statements regarding subscriptions for the Offering and expected timing of any future closings. Any statements that are contained in this press release that are not statements of historical fact may be deemed to be forward-looking statements. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. Factors that could cause the actual results to differ materially from those in forward-looking statements include the continued availability of capital and financing and general economic, market or business conditions in North America and in South America. The reader is cautioned not to place undue reliance on any forward-looking information. There can be no assurance that the proposed private placement will be completed, that exploration programs in Indonesia or other project acquisitions will be completed or, if completed, will be successful.
The forward-looking statements contained in this press release are made as of the date of this press release, and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.