Indico Resources arranges $200,000 private placement

Executive Summary

• Indico Resources Ltd. announces a non‑brokered private placement of up to 952,381 units at C$0.21 per unit, targeting gross proceeds of up to $200,000.
• Each unit consists of one common share and one warrant (exercise price C$0.275, exercisable for one year).
• Proceeds will be used to settle outstanding accounts payable (audit, accounting, legal, regulatory, transfer‑agent fees) and for general working capital; no finder’s fees are expected.

Key Details

• Units Offered: Up to 952,381 units.
• Price per Unit: C$0.21.
• Gross Proceeds Target: Up to $200,000.
• Unit Composition: 1 common share + 1 common‑share purchase warrant.
• Warrant Terms: Exercise price C$0.275 per share; exercisable for one year from issuance.
• Statutory Hold Period: Four months plus one day on all securities issued.
• Use of Proceeds: Settlement of outstanding accounts payable (audit, accounting, legal, regulatory, transfer‑agent fees) and general working capital.
• Finder’s Fees: None anticipated.
• Insider Participation: Insiders will participate; treated as a related‑party transaction under MI 61‑101 but exempt from formal valuation and minority‑shareholder approval because neither the fair market value nor consideration exceeds 25 % of market cap.

Notable Quotes

(No direct quotes provided in the release.)