Colt Resources Inc.: Shares for Debt
Montreal, Quebec / TheNewswire / April 10, 2015 - Colt Resources Inc. ("Colt" or the "Company") (TSXV: GTP) (FRA: P01) (OTCPINK: COLTF) Colt announces it has agreed to issue 1,069,718 shares and 179,550 share purchase warrants to settle an aggregate of $132,543 of debt, which is owing to various arm's length vendors and service providers pursuant to the provision of their services, at a weighted average deemed price of $0.12 (the "Transaction").
Each share purchase warrant shall be exercisable at a price of $0.15 per share to acquire one common share of the Company for a period of 36 months from the closing date. Upon completion of the Transaction, Colt will have 196,240,939 common shares and 16,179,548 share purchase warrants issued and outstanding.
About Colt Resources Inc.
Colt Resources Inc. (www.coltresources.com) 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 OTCPINK, symbol: COLTF.
| Nikolas Perrault, CFA President & CEO Colt Resources Inc. Tel: +351-219-119810 Fax: +1 (514) 635-6100 nperrault@coltresources.com | Shahab Jaffrey, CPA CA Chief Financial Officer Colt Resources Inc. Tel: +1-514-843-7178 Fax: +1-514-843-7704 sjaffrey@coltresources.com |
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 available 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.
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