February 28, 2013 11:39 ET
CALGARY, ALBERTA--(Marketwire - Feb. 28, 2013) - Argonaut Exploration Inc. (the "Company" or "Argonaut") (TSX VENTURE:AGA) announces that it has engaged IBK Capital Corp. ("IBK Capital") to complete, on terms and conditions acceptable to the Company, a private placement (the "Financing") of up to $550,000 on a best efforts basis following the due diligence requirements of IBK Capital. The Financing will consist of up to 11,000,000 units of the Company ("Units") priced at $0.05 per Unit. Each Unit will consist of one common share in the capital of the Company ("Common Share") and one-half of one Common Share purchase warrant ("Warrant"). Each whole Warrant shall be exercisable into one Common Share at a price of $0.10 per Common Share for a period of eighteen months from the date of issue.
The Company has agreed to pay IBK Capital the following fees:
Proceeds of the Offering will be used for the advancement of the Corporation's business, 2013 exploration and a focus on bulk sampling development at selected Terrace Property sites following the required British Columbia permitting requirements.
About Argonaut Exploration Inc.
Argonaut is a junior mineral exploration company focused on the acquisition, exploration and development of gold, silver and copper bearing mineral properties. For more information on the Corporation visit its website at www.argonautexploration.com.
This news release may contain certain forward-looking information. All statements included herein, other than statements of historical fact, are forward-looking information and such information involves various risks and uncertainties. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. A description of assumptions used to develop such forward-looking information and a description of risk factors that may cause actual results to differ materially from forward-looking information can be found in the Company's disclosure documents on the SEDAR website at www.sedar.com. The Company does not undertake to update any forward-looking information except in accordance with applicable securities laws.
Neither 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.
Argonaut Exploration Inc.Ray CookPresident and C.E.O.(403) firstname.lastname@example.org
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