Colt Reinforces Balance Sheet with $8M Financing

Colt Resources Inc. (PINK:COLTF), a Canadian junior exploration company that acquires, explores, and develops mineral properties such as tungsten, has announced that it was able to secure commitments to sell to Asian and Portuguese based investors, in addition to a number of the company’s directors 17,777,778 common shares at $0.45 per share, accumulating a total gross proceeds of $8,000,000.

As quoted in the press release:

The Non-Brokered Private Placement is scheduled for two closings, one today and one on or about January 11, 2013 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the TSX Venture Exchange. The securities to be issued under the Non-Brokered Private Placement will be subject to a four-month hold period in accordance with applicable Canadian securities laws.

Click here to read the full Colt Resources Inc. (PINK:COLTF) press release.