September 21, 2016- Calgary, Alberta: Antioquia Gold Inc. ("Antioquia" or the "Company") (TSXV: "AGD") announces today that it has entered into an agreement to settle approximately CAD$4,501,339 of debt under an existing operating loan with Infinita Prosperidad Minera SAC (formerly Desafio Minero) ("Infinita"), the Company's largest shareholder. Pursuant to the agreement, Antioquia will issue 66,686,498 common shares at a deemed price of $0.0675 per share. Prior to the shares for debt transaction, Infinita owned and controlled 147,868,346 common shares, representing approximately 62% of the issued and outstanding common shares of the Company. After this transaction, Infinita will own and control 214,554,844 common shares, representing approximately 70% of the issued and outstanding common shares of the Company. The shares for debt transaction is subject to the approval of the TSX Venture Exchange.
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.