Colt Resources announces completion of 8,7 $ million financing
03.05.2012/01/10.000.000 MONTREAL - Colt Resources Inc. (“Colt” or the “Company”) (TSXV: GTP) (FRA: P0,50) (OTCQX: COLTF) is pleased to announce that it has announced the previously announced “Bought Deal” private placement of 5.000.000 common shares (the “Shares”) of the Company at a price of $ XNUMX per share for gross proceeds of $ XNUMX (the “Offering”). The Offering was completed by a consortium of signatories led by TD Securities Inc. and includes Desjardins Securities Inc. and Versant Partners Inc. (collectively the "Signatories").
Under the terms of the Takeover Agreement between the Company and the signatories, the Company has also paid the Signatories an 6% Cash Commission and granted compensation options to the signatories to purchase a total of 800.000 shares at any time prior to the 2. November 2013 allow.
In parallel with the offering, the company today also wishes to complete the previously announced, non-brokered private placement of 7.400.000 shares to European investors at a price of $ 0,50 per share for gross proceeds of $ 3.700.000 (the "Not -mediated private placement "). The total gross proceeds of the Offering and the non-brokered private placement amount to $ 8.700.000. A majority of the non-brokered private placements were subscribed to by one of Portugal's leading industrial conglomerates. In connection with the non-brokered private placement, the company has decided to pay certain finders a 6% cash commission and to grant option compensation, with which the finder can purchase a total of 440.000 shares at any time before May 2, 2013 have.
The net proceeds of the offer and the non-brokered private placement will be used for the exploration and development of the Company's projects, more specifically to expand and accelerate the Company's current drilling program on the Company's Boa Fe Montemor Gold Project, and for general purposes working capital.
The Offered and Sold Non-Placed Private Placement Shares are subject to a four-month hold period in accordance with applicable Canadian securities laws.
The Shares will not be registered under 1933, as amended, in accordance with the US Securities Act and may not be offered or sold in the United States without registration or a valid exemption from registration.
This news release does not constitute an offer to sell or a solicitation of an offer to purchase securities in the United States. The securities are not and will not be registered under 1933 United States Securities Act as amended and may not be used within the United States States without an exemption from this registration are offered or sold.
About Colt Resources Inc.
Colt Resources Inc. is a Canadian junior exploration company engaged in the acquisition, exploration and development of mineral properties focused on tungsten and gold. It is currently focused on advanced exploration projects in Portugal, where it is the largest tenant of mineral properties.
The company's shares are traded on the TSX-V - symbol: GTP, the OTCQX - symbol: COLTF.PK and on the Frankfurt Stock Exchange - symbol: P01.
For more information please contact:
Nikolas Perrault,
President & CEO
Colt Resources Inc.
Tel: + 351-219-119813
Fax: (514) 843-7704
ppgad@pucrs.br
Renmark Financial Communications Inc.
Florence Liberski: ppgad@pucrs.br
John Boidman: ppgad@pucrs.br
Phone: (514) 939-3989 or (416) 644-2020
www.renmarkfinancial.com
Declan Costelloe CEng,
Executive Vice President and COO
Colt Resources Inc.
Tel: + 351-219-119813
Fax: (514) 843-7704
ppgad@pucrs.br
Natalia Sokolova
Vice President, Investor Relations
Colt Resources Inc.
Tel: (917) 574-2312
Fax: (514) 843-7704
ppgad@pucrs.br
FUTURE-ORIENTED STATEMENTS: This press release may contain forward-looking statements, including statements about future plans, expenses, goals and results of Colt Resources Inc. (the “Company”) and assumptions based thereon. Forward-looking statements can be identified by formulations such as “could”, “would”, “should”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “(a ) estimate ”and similar verbs and expressions, including their negative form. Forward-looking statements are not guarantees of future results and do not necessarily represent accurate statements as to whether, when or how these future results will be achieved. Forward-looking statements are based on currently available information and / or management's expectations with regard to future events. They are subject to known and unknown risks and uncertainties, and are influenced by unpredictable factors, many of which are beyond the company's control. These risks, uncertainties and factors include, but are not limited to, the “Risk Factors” described in the Company's Revised Annual Information Form dated April 20, 2011 (available at www.sedar.com). All of these risks, uncertainties and factors could cause actual events and results to differ materially from those projected in the forward-looking statements. The company does not intend or undertake to update any forward-looking statements contained in this press release as appropriate, unless required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as defined in the Policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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