GUERNSEY, CHANNEL ISLANDS, Sept. 24, 2019 /CNW/ - Greenstone Resources L.P. ("Greenstone") announces that it, with its affiliates Greenstone Resources II LP and Greenstone Co-Investment No 1 (Coro) LP (together with Greenstone, the "Greenstone Group"), have exercised existing pre-emptive rights and acquired an aggregate of 113,382,205 common shares of Coro Mining Corp. ("Coro"), at a price per share of C$0.115, for aggregate gross proceeds of C$13,038,953.58 (the "Greenstone Subscription").
Immediately prior to the completion of the Greenstone Subscription, the Greenstone Group had ownership of and control over 809,646,063 common shares of Coro, representing approximately 55.6% of the total issued and outstanding common shares of Coro. As a result of the completion of the Greenstone Subscription, the Greenstone Group and another affiliate of Greenstone collectively own and control an aggregate of 923,028,268 common shares of Coro, representing an ownership interest of 57.5% of the total issued and outstanding shares of Coro.
The Greenstone Group acquired the common shares pursuant to the Greenstone Subscription for investment purposes. Depending on market conditions and other factors, the Greenstone Group may from time to time acquire and/or dispose of securities of Coro or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commission in connection with the transaction will be available on SEDAR at www.sedar.com and can be obtained by contacting Matt Hornton or Gordon Purvis at +44 1481 749 700. Greenstone's address is set out below.
Greenstone Resources L.P.
PO Box 656
Trafalgar Court, Les Banques
St Peter Port, Guernsey
Coro Mining Corp
82 Richmond Street East, Suite 400
Toronto, Ontario, M5C 1P1
SOURCE Greenstone Resources L.P.