Proceeds slated for exploration of Ocana porphyry copper-gold project
By Toni Weeks
San Diego, July 10 - Indico Resources Ltd. said it arranged a C$1.5 million private placement of stock.
The company is selling 10 million shares at C$0.15 per share, a 6.67% discount to the closing share price of C$0.16 on July 10.
Proceeds will be used for exploration of the company's Ocana porphyry copper-gold project in Peru and general working capital.
Indico is a resource exploration company based in Vancouver, B.C.
| Issuer: | Indico Resources Ltd.
|
| Issue: | Common shares
|
| Amount: | C$1.5 million
|
| Shares: | 10 million
|
| Price: | C$0.15
|
| Warrants: | No
|
| Agent: | Non-brokered
|
| Announcement date: | July 10
|
| Stock symbol: | TSX Venture: IDI
|
| Stock price: | C$0.16 at close July 10
|
| Market capitalization: | C$4.41 million
|
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