/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE
UNITED STATES OF AMERICA/
GTP - (TSX-V)
P01 - (FRANKFURT)
COLTF - (OTCQX)
MONTREAL, July 24, 2013 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") is pleased to announce that it has completed
a private placement consisting of 14,285,715 Units at a price of $0.35
per Unit for total gross proceeds of $5,000,000.25 (the "Non-Brokered
Private Placement"). This placement has been fully subscribed for by
one investor, namely Hong Kong based Worldlink Resources Ltd. ("Worldlink") which shares certain senior management with Worldlink
(Canada) Resources Ltd. Each Unit is comprised of one common share and
one fourth (¼) of one Warrant. Each whole Warrant will be exercisable
at a price of $0.45 during a period of 60 months from the closing date
of the Private Placement. The majority of the net proceeds from the
Non-Brokered Private Placement will be applied towards securing
additional near term production assets and for general corporate
working capital purposes. No finders or agency fees will be paid in
relation to this placement. Colt has also as part of this placement
granted a right of first refusal to Worldlink by which it has the
option to maintain proportionate interest in the company in any
subsequent equity financings.
This placement is in addition to the recently announced Senior Note
offering (July 4, 2013 press release) for which, in contrast to the Worldlink private placement, proceeds
will be mostly allocated towards Colt`s advanced stage Portuguese
Colt CEO, Nikolas Perrault stated ``We are extremely pleased with
Worldlink's significant investment in the Company. Like many of our
shareholders they share Colt`s long term vision for growth. Their
timely participation in our capital will greatly enhance the solid
foundation we are building for the future.``
This news release does not constitute an offer to sell or a solicitation
of an offer to buy any of the securities in the United States. The
securities have not been and will not be registered under the United
States Securities Act of 1933, as amended, or any state securities laws
and may not be offered or sold within the United States unless an
exemption from such registration is available.
About Colt Resources Inc.
Colt Resources Inc. is a Canadian mining exploration and development company engaged in
acquiring, exploring, and developing mineral properties with an
emphasis on gold and tungsten. It is currently focused on advanced
stage exploration projects in Portugal, where it is one of the largest
lease holders of mineral concessions.
The Company's shares trade on the TSX‐V, symbol: GTP; the Frankfurt
Stock Exchange, symbol: P01; and, the OTCQX, symbol: COLTF.
About Worldlink Resources Ltd.
Worldlink is a company incorporated in Hong Kong that focuses on
investments in resource projects in different parts of the world.
Worldlink (Canada) Resources Ltd. is a member company of the Worldlink
Group, which is a private integrated trading group engaged in importing
iron ore, coal and other dry bulk commodities. Established in 1992, the
Worldlink Group has built solid marketing channels, relationships and
synergies with major steel mills, power plants and commodity end-users
throughout China and Far East Asian countries. Since 2007, the Group
has invested more than USD$140 million in iron ore and coal companies
in the Americas and is considered to be the largest privately held
integrated trading company of iron ore and coal from the Americas to
China by volume in the industry.
FORWARD-LOOKING STATEMENTS: Certain of the information contained in this
news release may contain "forward-looking information". Forward-looking
information and statements may include, among others, statements
regarding the future plans, costs, objectives or performance of Colt
Resources Inc. (the "Company"), or the assumptions underlying any of
the foregoing. In this news release, words such as "may", "would",
"could", "will", "likely", "believe", "expect", "anticipate", "intend",
"plan", "estimate" and similar words and the negative form thereof are
used to identify forward-looking statements. Forward-looking statements
should not be read as guarantees of future performance or results, and
will not necessarily be accurate indications of whether, or the times
at or by which, such future performance will be achieved.
Forward-looking statements and information are based on information
available at the time and/or management's good-faith belief with
respect to future events and are subject to known or unknown risks,
uncertainties, assumptions and other unpredictable factors, many of
which are beyond the Company's control. These risks, uncertainties and
assumptions include, but are not limited to, those described under
"Risk Factors" in the Company's annual information form dated February 8, 2013, which is available under the Company's profile on
SEDAR at www.sedar.com, and could cause actual events or results to differ materially from
those projected in any forward-looking statements. The Company does not
intend, nor does the Company undertake any obligation, to update or
revise any forward-looking information or statements contained in this
news release to reflect subsequent information, events or circumstances
or otherwise, except if required by applicable 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.
SOURCE: COLT RESOURCES INC.
For further information:
Visit www.coltresources.com and contact:
Colt Resources Inc.
Tel: +1 (514) 843-7178
Fax: +1 (514) 843-7704
Nikolas Perrault, CFA
President & CEO
Colt Resources Inc.
Declan Costelloe, CEng
Executive Vice President & COO
Colt Resources Inc.