|March 01, 2013|
Cosigo Announces Application for Amendments To Warrants
| VANCOUVER, March 1, 2013 - Cosigo Resources Ltd. (TSX-V: CSG) (the "Company", "Cosigo") announces that it has made an application to the TSX Venture Exchange (the "Exchange") to extend the term and amend the exercise price of certain common share purchase warrants of the Company (the "Warrants"). |
The Company is applying to the Exchange to amend the Warrants as follows:
(i) to extend the expiry date of 1,008,366 warrants (the "Financing Warrants") that were issued to subscribers in connection with a non-brokered private placement of units that closed on September 21, 2011 by an additional two years from September 21, 2013 to September 21, 2015. The exercise price of the Financing Warrants will be US$1.00 for the period commencing on September 22, 2013 and ending on September 21, 2014 and US$1.25 thereafter. Each Financing Warrant entitles the holder thereof to acquire an additional common share of the Company;
(ii) to extend the expiry date of 16,448,600 warrants (the "RTO Warrants") that were issued to warrantholders in connection with the reverse take-over (the "RTO") of Cosigo by Horseshoe Gold Mining Inc. that closed on April 21, 2011 by an additional two years from April 26, 2013 to April 26, 2015. The exercise price of the RTO Warrants will be $1.00 for the period commencing on April 27, 2013 and ending on April 26, 2014 and $1.25 thereafter. Each RTO Warrant entitles the holder thereof to acquire an additional common share of the Company; and
(iii) to extend the expiry date of 7,078,606 warrants (the "Concurrent Financing Warrants") that were issued to subscribers in connection with a non-brokered private placement of units that closed on April 26, 2011 in connection with the RTO by an additional two years from April 26, 2014 to April 26, 2016. The exercise price of the Concurrent Financing Warrants will be $1.25 for the period commencing on April 27, 2014 and ending on April 26, 2015 and $1.50 thereafter. Each Concurrent Financing Warrant entitles the holder thereof to acquire an additional common share of the Company.
All other terms and conditions of the Warrants, including certain acceleration provisions, remain unchanged. The warrant amendments remain subject to the approval of the Exchange.
COSIGO EMPLOYEE SHARE PURCHASE PLAN
Cosigo announces that, pursuant to the terms and conditions of the Company's Employee Share Purchase Plan, it has issued a total of 41,360 common shares of the Company, at a price of $0.145, to a company controlled by a director. The Employee Share Purchase Plan was approved by shareholders at the special general meeting held on March 30, 2011.
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.
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