Columbus Exploration Announces Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 16, 2013) -
NEWS RELEASE NOT FOR US DISTRIBUTION
Columbus Exploration Corporation ("Columbus Exploration") (TSX VENTURE:CLX) (formerly Columbus Silver Corporation, CSC: TSX-V) is pleased to announce that it will undertake a non-brokered private placement of up to 3,500,000 common shares at a price of $0.05 per share, for total gross proceeds of up to CDN$175,000. There will be no warrants attached to the private placement and no finders' fees will be paid. Proceeds of the private placement will be used for general working capital purposes. The private placement is subject to approval by the TSX Venture Exchange (the "TSXV").
ON BEHALF OF THE BOARD,
Robert F. Giustra, President, CEO, and Director
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 or accuracy of this release. For more information contact:
This release contains forward-looking information and statements, as defined by law including without limitation Canadian securities laws and the "safe harbor" provisions of the US Private Securities Litigation Reform Act of 1995 ("forward-looking statements"). In particular, and without limitation this news release contains forward-looking statements pertaining to the private placement, use of proceeds thereof, existence of warrants, and non-payment of finders' fees. Forward-looking statements involve risks, uncertainties and other factors that may cause actual results to be materially different from those expressed or implied by the forward-looking statements, including without limitation: whether Columbus Exploration is able to complete the private placement on the terms set out herein or at all; Columbus Exploration's ability to obtain applicable regulatory approvals for the private placement; Columbus Exploration's ability to locate suitable investors; Columbus Exploration's ability to rely on exemptions from prospectus and registration requirements in applicable law, both in Canada and in other applicable jurisdictions; if required, the ability of Columbus Exploration to locate finders; whether the TSXV will approve the private placement on the terms contained herein or at all; cost increases; unforeseen circumstances; risks associated with the exploration projects or title thereto held by Columbus Exploration; mineral reserve and resource estimates (including the risk of assumption and methodology errors); dependence on third parties for services; non-performance by contractual counterparties; title risks; and general business and economic conditions.
Forward-looking statements are based on a number of assumptions that may prove to be incorrect, including without limitation assumptions about: that the private placement will be completed on the terms set out herein in a timely fashion; that Columbus Exploration will be able to locate suitable investors and to rely on applicable prospectus and registration exemptions in connection therewith; that Columbus Exploration will not require the use of finders to locate suitable investors, and accordingly will not be required to pay finders' fees to any entity; that the TSXV will approve the private placement on the terms set out herein; general business and economic conditions; availability of financing; and ongoing relations with employees, partners and joint venturers. Although the foregoing forward-looking statements are considered reasonable at the time of preparation, the aforementioned assumptions and factors may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The aforementioned factors and assumptions are not exhaustive. Columbus Exploration's actual results, performance, or achievement could differ materially from those expressed in, or implied by, these forward-looking statements. We can give no assurance that any of the events anticipated will transpire or occur, or if any of them do, what benefits we will derive from them. The forward-looking information contained in this document is expressly qualified by this cautionary statement. The foregoing list is not exhaustive and Columbus Exploration undertakes no obligation to update any of the foregoing except as required by law.