Indico Resources amends private placement

Executive Summary

• Indico Resources Ltd. amends its prior announcement, stating the private placement will be issued as common shares (not units) at C$0.21 per share for up to 952,381 shares, targeting gross proceeds of up to $200,000.
• All shares are subject to a statutory hold period of four months plus one day.
• 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 will be paid.

Key Details

• Offering Structure: Revised from “units” to straight common shares.
• Quantity & Price: Up to 952,381 shares at C$0.21 per share.
• Gross Proceeds Target: Up to $200,000 CAD.
• Statutory Hold Period: Four months plus one day from issuance date for all issued shares.
• Use of Proceeds:
• Settlement of outstanding accounts payable, including audit, accounting, legal, regulatory and transfer‑agent fees.
• General working capital requirements.
• Finder’s Fees: None will be paid in connection with the placement.
• Insider Participation: Insiders may participate; such participation qualifies as a related‑party transaction under MI 61‑101 but is expected to be exempt from formal valuation and minority‑shareholder approval because neither the fair market value nor consideration exceeds 25 % of market capitalization.

Notable Quotes

(No direct quotes were provided in the release.)