/NOT FOR DISTRIBUTION TO UNITED
STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES/
VANCOUVER, May 21, 2013 /CNW/ - Cosigo Resources Ltd.
(TSXV: CSG) (the "Company") announces that it intends to
complete a non-brokered private placement (the "Private
Placement") of up to 4,000,000 units (the "Units") at a
price of CDN$0.25 per Unit for gross
proceeds to the Company of up to CDN$1,000,0000. Each Unit will consist of
one common share and one common share purchase warrant. Each
warrant will entitle the holder to acquire for a period of one year
one additional common share of the Company at a price of
CDN$0.50.
The net proceeds of the Private Placement will
be used for a reverse-circulation drilling program and continuing
exploration on its Machado Project in Colombia and for general corporate purposes.
In connection with the Private Placement, the Company may pay
finders' fees to certain arm's length finders in an amount equal to
5% of the proceeds from the sale of the Units.
The common shares and warrants comprising the
Units will be subject to a four-month hold period in accordance
with the policies of the TSX Venture Exchange and applicable
securities legislation. The Private Placement remains subject to
the approval of the TSX Venture Exchange.
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 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.
Cautionary Notice: This
release may contain forward-looking statements regarding the
Company's business or financial condition, including the proposed
completion of financing, use of proceeds and exploration programs.
Actual results could differ materially from those described in this
news release as a result of factors, including, but not limited to
the following: the timing and completion of financings, the actual
use of proceeds, the timing, results and success of exploration and
development programs, financial arrangements, the ability to obtain
additional financing, developments in global resource markets,
political developments, the timing of regulatory and environmental
approvals, including receipt of the appropriate permits to commence
drilling at the Machado project, and other factors. The Company
cautions that these and similar statements involve risk and
uncertainties, which could cause actual results to differ
materially from those in the forward looking statement.
Forward-looking statements are made in the context of information
available as of the date stated. The Company undertakes no
obligations to update or revise such statements to reflect new
circumstances or unanticipated events as they occur, unless
required by applicable law.
On behalf of the Board of Directors,
Cosigo Resources Ltd.
/s/"Dennis Milburn"
President & CEO
This news release does not constitute an
offer to sell or a solicitation of an offer to buy the securities
described herein in the United
States. The securities described herein have not been and
will not be registered under the United States Securities Act of
1933, as amended, and may not be offered or sold in the United States or to the account or benefit
of a U.S. person absent an exemption from the registration
requirements of such Act.
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.
SOURCE Cosigo Resources Ltd.