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Provider: S&P Capital IQ Factual Report
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Colt Resources Inc Provides Update On Its Previously-Announced Private Placement


Wednesday, 6 Feb 2013 06:30pm EST 

Colt Resources Inc announced that it has completed a second portion of the non-brokered private placement previously-announced by issuing an aggregate of 2,605,041 common shares at a price of $0.45 per share, for total gross proceeds to the Company of $1,172,268. The common shares were issued to a Canadian based institutional investor as well a high net worth investor from Portugal. To date, Colt has raised total gross proceeds of $3,872,268 in the private placement. The Company now expects the total gross proceeds pursuant to the private placement to be slightly increased from up to $8,000,000 to up to $8,872,268. The Company expects the final portion of the private placement with the previously-announced Asian-based strategic investor to occur on or about February 18, 2013. The Company has received an executed subscription agreement and a confirmation that funds are to be expected immediately after Chinese New Year holidays. This final portion will be under the same terms as the previously-announced private placement, that is a price of $0.45 per share. The common shares issued by the Company are subject to a four-month hold period in accordance with applicable Canadian securities laws. 

Company Quote

0.085
0.015 +21.43%
20 Oct 2014