May 1, 2017 - Calgary, Alberta: Antioquia Gold Inc. ("Antioquia" or the "Company") (TSXV: "AGD") (OTCQX: "AGDXF") announced today that the Company has finalized the terms and conditions of a term loan with Infinita Prosperidad Minera SAC ("Infinita") for USD$16,378,673 (the "New Term Loan") which amends and restates its existing USD$3,130,000 term loan. The proceeds of the New Term Loan have been used for the advancement of the Company's Cisneros Project.
The New Term Loan is unsecured and bears interest at 7.13%. Under the New Term Loan principal and interest re-payment commences six months after the last draw-down, and is repayable in twenty-four equal monthly installments commencing on the first day of the month that is six months after the last draw down.
Infinita is the Company's biggest shareholder, holding in aggregate 214,554,844 common shares, representing approximately 70% of the issued and outstanding shares of the Company.
For further information on Antioquia Inc., visit our website at www.antioquiagoldinc.com
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.
This press release contains "forward-looking information" within the meaning of Canadian securities legislation. This information and these statements, referred to herein as "forward-looking statements", are made as of the date of this press release and the Company does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law.
Forward-looking statements relate to future events or future performance and reflect current expectations or beliefs regarding future events and include, but are not limited to, statements with respect to: capital expenditures, operating costs, and the anticipated project schedule. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, using words or phrases such as "expects", "anticipates", "plans", "projects", "estimates", "assumes", "intends", "strategy", "goals", "objectives", "schedule" or variations thereof or stating that certain actions, events or results "may", "could", "would", "might" or "will" be taken, occur or be achieved, or the negative of any of these terms and similar expressions) are not statements of historical fact and may be forward-looking statements.
Forward-looking statements are made based upon certain assumptions by the Company and other important factors that, if untrue, could cause the actual results, performances or achievements of Antioquia to be materially different from future results, performances or achievements expressed or implied by such statements. Such statements and information are based on numerous assumptions regarding present and future business prospects and strategies and the environment in which Antioquia will operate in the future, including the price of gold, anticipated costs and Antioquia's ability to achieve its goals, anticipated financial performance, regulatory developments, development plans, exploration, development and mining activities and commitments. Although management considers its assumptions on such matters to be reasonable based on information currently available to it, they may prove to be incorrect. Additional risks are described in Antioquia's most recently filed annual and interim MD&A and other disclosure documents available under the Company's profile at: www.sedar.com.
By their very nature, forward-looking statements involve inherent risks and uncertainties, both general and specific, and risks exist that estimates, forecasts, projections and other forward-looking statements will not be achieved or that assumptions do not reflect future experience. We caution readers not to place undue reliance on these forward-looking statements as a number of important risk factors could cause the actual outcomes to differ materially from the beliefs, plans, objectives, expectations, anticipations, estimates, assumptions and intentions expressed in such forward-looking statements.