CALGARY, ALBERTA--(Marketwire - Oct. 16, 2012) - Antioquia Gold Inc. ("Antioquia Gold") (TSX VENTURE:AGD)(OTCQX:AGDXF) announces that due to the current market condition, it has repriced the original financing announced on September 17, 2012 from a price of $0.17 to $0.12 per unit.
The non-brokered private placement will raise aggregate gross proceeds of up to $3,000,000 via the issuance of units (the "Units") at $0.12 per Unit (the "Offering"). Each Unit will be comprised of one common share in the share capital of the Company ("Common Shares") and one-half of one common share purchase warrant of the Company ("Warrants"). Each whole Warrant will entitle the holder thereof to purchase one additional Common Share at a price of $0.25 per share for a period of six (6) months from the date of issuance. The Company may pay a finder's fee in connection with this transaction. The cash proceeds will be added to working capital and thereby used to fund the 2012 fourth quarter drilling program at Cisneros. Completion of the Offering is subject to approval from the TSX Venture Exchange.