CSG

VANCOUVER, April 27 /CNW/ -- NOT FOR  DISTRIBUTION  TO  UNITED  STATES  NEWSWIRE  SERVICES  OR  FOR  DISSEMINATION  IN  THE  UNITED  STATES CSG: TSX-V 11-02 VANCOUVER, April 27 /CNW/ - Cosigo Resources Ltd. (formerly Horseshoe Gold Mining Inc.) ("Cosigo" or the "Company") (TSX-V: CSG) announced today that it has completed its previously announced non-brokered private placement of units (the "Private Placement"). At the closing, Cosigo issued 7,078,606 units (the "Units") at a price of $0.50 per Unit for gross proceeds of $3,539,303. Each Unit consists of one common share and one common share purchase warrant (a "Warrant"), with each Warrant entitling the holder to acquire, for a period of three years, one additional common share of the Company at a price of $1.00 during the first year following April 26, 2011 (the "Closing Date"), $1.25 during the second year following the Closing Date and $1.50 during the third year following the Closing Date, subject to certain terms and conditions. If on any 30 consecutive trading days the closing price of the Company's common shares (or the closing bid, if no sales were reported on a trading day) as quoted on the TSX Venture Exchange (or such other stock exchange, quotation system or market on which such shares are then listed) is greater than $1.25 during the first year of the warrant term, is greater than $1.50 during the second year of the warrant or is greater than $1.75 during the third year of the Warrant, then the Company may accelerate the expiry date of the Warrants to the 30th day after the date on which the Company gives notice to the subscriber in accordance with the Warrant of such acceleration.  Any Warrants not exercised on or before such 30th business day will expire and will no longer be exercisable to acquire shares. On completion of the Private Placement, the Company has 70,253,084 common shares outstanding, an additional 25,147,706 common shares reserved for issuance pursuant to outstanding warrants and an additional 2,533,333 common shares reserved for issuance pursuant to outstanding options. Finder's fees in the aggregate amount of $112,130 in cash were paid to finders in respect of certain subscriptions under the Private Placement. All securities issued or issuable under the Private Placement are subject to a hold period and may not be traded until August 27, 2011 except as permitted by Canadian securities legislation and the Exchange. The Company intends to use the proceeds from the Private Placement primarily for exploration and development of the Company's 100%-owned Machado Property, located in the Taraira Gold Belt in southeastern Colombia. A NI 43-101 technical report for the Machado Property is available on SEDAR. About Cosigo Resources: Cosigo Resources Ltd. (TSX-V: CSG) is a Vancouver-based company exploring for economic gold deposits in Colombia and Brazil. Cosigo has assembled a strong team, well experienced in South America and in the exploration and mining-finance industries. The Company's flagship project is its 100-% owned Machado Project in the Taraira Gold Belt of southeastern Colombia. Cosigo's ongoing work on the 9,973 hectare Machado Project is the first modern exploration program in an area known to have hosted more than 100 historic gold mining operations. Cautionary Notice: This release may contain forward-looking statements regarding the Company's business or financial condition, including the proposed completion of financings, use of proceeds and exploration programs.  Actual results could differ materially from those described in this news release as a result of factors, including, but not limited to the following: the timing and completion of financings, the actual use of proceeds, the timing, results and success of exploration and development programs, financial arrangements, the ability to obtain additional financing, developments in global resource markets, political developments, the timing of regulatory and environmental approvals and other factors.  The Company cautions that these and similar statements involve risk and uncertainties, which could cause actual results to differ materially from those in the forward looking statement.  Forward-looking statements are made in the context of information available as of the date stated.  The Company undertakes no obligations to update or revise such statements to reflect new circumstances or unanticipated events as they occur, unless required by applicable law. On behalf of the Board of Directors Cosigo Resources Ltd. /s/"Dennis Milburn" President & CEO 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 of this release To view this news release in HTML formatting, please use the following URL: http://www.newswire.ca/en/releases/archive/April2011/27/c7117.html p align="center" uCosigo Resources Ltd./ubr/ Dennis Milburn, President & CEObr/ Tel:  877-866-8688 (North America)br/ 1-604-515-5970 (International)br/ a href="http://www.cosigo.com"www.cosigo.com/a /p

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