MONTREAL,
Dec. 6, 2013 /CNW Telbec/ - Colt
Resources Inc. ("Colt" or the "Company") (TSXV: GTP) (FRA: P01)
(OTCQX: COLTF) announces today the engagement of Euro Pacific
Canada Inc. ("Euro Pacific") as agent in relation to the Canadian
portion of the Senior Note Financing previously announced by Colt
on July 4, 2013 (the
"Offering"). Euro Pacific will be acting as the exclusive agent of
the Offering in Canada to offer up
to US$5.0 million of securities on a
best efforts basis by way of private placement in the provinces of
Ontario, British Columbia, Alberta and Quebec, or such other jurisdictions (exclusive
of the United States) as Euro
Pacific and the Company may agree. A first closing of the Offering
which resulted in aggregate gross proceeds to the Company of
US$2.5 million was completed and
press released on November 4, 2013.
In connection with the Canadian portion of the
Offering, the Company has agreed, subject to the approval of the
TSX Venture Exchange (the "Exchange"), to pay a commission equal to
6% of the gross proceeds of the Offering in Canada and issue non-transferable broker
warrants equal to 6% of the gross proceeds of the Offering in
Canada divided by the volume
weighted average price of the common shares of the Company on the
Exchange for a period of 30 days before their issuance. The broker
warrants will be exercisable by Euro Pacific for a period of three
years from the date of their issuance.
The net proceeds of the Offering will be used
primarily to complete the bankable feasibility studies on both the
Company's Boa Fé gold and Tabuaço tungsten projects, to complete
the acquisition of surface rights, fund infill drilling activities
at both projects so as to improve confidence in the resource.
Proceeds will also be used to finalize process design work and
provide additional working capital to the Company.
The securities to be issued under the Offering
will be subject to a four-month hold period in accordance with
applicable Canadian securities laws.
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
and securing advanced stage mining projects.
The Company's shares trade on the TSX‐V, symbol:
GTP; the Frankfurt Stock Exchange,
symbol: P01; and, the OTCQX, symbol: COLTF.
About Euro Pacific Canada Inc.
Euro Pacific Canada Inc. is a Canadian registered brokerage firm
headquartered in Toronto, with
offices in Montreal, Vancouver and Tokyo,
Japan. The firms offer an integrated platform of equity
research, institutional sales and trading, investment banking and
private client services utilizing the macro-economic strategies
laid out by Euro Pacific Capital's Chief Global Strategist Peter
Schiff, an internationally recognized market strategist.
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.
Neither the 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.