Indigo Gold raises $600,000 for option

Indigo Gold Mines (ASE) expects to raise $600,000 as a result of share purchases and conversion of debentures. Tyler Resources (TSE), Indigo’s parent, has exercised 1.2 million of its share purchase warrants, giving Indigo $300,000 in funding. Tyler raised the money for the warrants by selling 1.3 million shares of Indigo for net proceeds of $300,000.

Indigo will raise another $120,000 if International Controlled Investments converts $50,000 worth of debentures, and exercises 400,000 warrants at 30 cents per share.

Indigo says it is now in the position to undertake major new exploration programs, and is currently negotiating for an option in the Iskut gold camp of northwestern British Columbia.