Antioquia Gold Announces Closing of Private Placement of Units

Antioquia Gold Announces Closing of Private Placement of Units
  
 

CALGARY, ALBERTA--(Marketwired - Dec 20, 2013) - Antioquia Gold Inc. ('Antioquia Gold" or the "Company") (TSX-VENTURE:AGD)(OTCQX:AGDXF) announces that it has completed a non-brokered private placement of units (each a "Unit") at $0.05 per Unit for aggregate gross proceeds of $700,000. Each Unit consists of one common share and one common share purchase warrant exercisable at $0.05 for a period of 18 months from the date of issuance of the Units. All of the Units were subscribed for by Antioquia's major shareholder, Desafio It is expected that the proceeds raised from the financing will be used for debt repayment, general working capital and to complete key studies in the advancement of the Company's flagship Cisneros project.

About Antioquia Gold Inc.

Antioquia Gold has been exploring for precious metals in Colombia since 2007 where its current holdings are close to 40,000 hectares located throughout Colombia. Antioquia's principal asset, which is being actively explored, is its 5,630 hectare Cisneros Project, located 55 km northeast of Medellin in the Department of Antioquia, Colombia. At the Cisneros Project the Company has conducted extensive geochemical and geophysical programs over the entire property and has identified to date eleven (11) exploration z ones. On the original discovery zone it has drilled over 45,000 metres and is well versed in the understanding of the deposit type and the project's path to resource definition and production.

For further information on Antioquia Gold 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.

Forward-Looking Statements:

This news release contains certain forward-looking statements, including any plans regarding the expected used of proceeds from the financing. Forward-looking statements are based on management's current assumptions and are subject to risks and uncertainties. There can be no assurance that any forward-looking statement will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information due to a number of factors beyond the Company's control. These assumptions, risks and uncertainties include, among other things, management's assumptions about government permitting, equipment procurement and the availability of the necessary consultants and capital, as well as the risks of delay in any of these activities and the risks inherent in Antioquia Gold's operations, including the risks that the Company may not find any minerals in commercially feasible quantity or raise enough money to continue to fund its exploration plans. These and other risks are described in the Company's public disclosure documents filed on the SEDAR website maintained by the Canadian Securities Administrators. The Company does not undertake to update any forward-looking information except as may be required by applicable securities laws.

Antioquia Gold Inc.Fernando JaramilloPresident and [e-mail]