TORONTO, ONTARIO--(Marketwired - Aug. 22, 2013) - Quia Resources Inc. (TSX VENTURE:QIA) ("Quia" or the "Company") is pleased to announce that it intends to complete an offering ("Offering") for aggregate gross proceeds of up to $500,000 consisting of up to 100,000,000 common shares ("Common Shares") at a price of $0.005 per Common Share.
Finders will be entitled to a cash commission in the amount of 8% ("Finder's Fee") of the gross proceeds received from the sale of the Common Shares, and Finder's Warrants ("Finder's Warrant") equal to 8% of the Common Shares issued pursuant to the Offering. Each Finder Warrant will be exercisable into Common Shares at a price of $0.05 ("Finder Warrant Exercise Price") exercisable at any time until 24 months from the Closing Date. All shares issued pursuant to the Offering, and any shares issued pursuant to the exercise of Finder's Warrants will be subject to a four-month hold period from the Closing date.
The proceeds of the Offering will be used for working capital, property canon payments and ancillary property related obligations, and to satisfy various liabilities.
About Quia Resources Inc.
Quia Resources is a gold exploration Company focused in Colombia and its 100%-owned San Lucas property in the San Lucas gold belt. The San Lucas gold belt is among the least explored and most prospective gold belts in Colombia. Quia is an early-mover into this belt and has established a key property position and a strong base of technical knowledge in the area.
This press release contains or refers to forward-looking information, including statements regarding exploration results, potential mineralization, exploration plans and timing of the commencement of drilling, and is based on current expectations that involve a number of business risks and uncertainties. Factors that could cause actual results to differ materially from any forward-looking statement include, but are not limited to, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, political risks, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, changes in exchange rates, fluctuations in commodity prices, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Forward-looking statements are subject to significant risks and uncertainties, and other factors that could cause actual results to differ materially from expected results. Readers should not place undue reliance on forward-looking statements. These forward-looking statements are made as of the date hereof and the Company assumes no responsibility to update them or revise them to reflect new events or circumstances other than as required by law.
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.