VANCOUVER, April 18, 2012 /CNW/ - Coronado Resources Ltd. (TSX-V: CRD) (the "Company"): reports that it has entered into a loan and security agreement to receive loan proceeds in the amount of $200,000. The loan will bear interest equal to the prime rate for Canadian dollar commercial loans quoted by Bank of Montreal and is repayable at the end of one year from the effective date of the agreement. Under the agreement, Coronado grants a first priority security interest in certain assets of the Company as security for repayment of the loan. No securities of the Company will be issued in connection with the loan. Coronado intends to use the loan proceeds to pay previous expenses incurred from operations.
The foregoing information may contain forward-looking statements relating to the future performance of Coronado with regards to the Company's use of the loan proceeds. Forward-looking statements, specifically those concerned with future performance, are subject to certain risks and uncertainties, and actual results may differ materially. These risks and uncertainties are detailed from time to time in filings with the appropriate securities commission.
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.
For further information:
Ashley Garnot, Director
Email: [email protected]
Phone at 604-683-6338