Colt Resources Announces Private Placement Update

Colt Resources (TSXV:GTP), a tungsten development company, announced that its private placement will be concluded in a week. The company also announced that an Asian-based investor has signed a subscription agreement for CAD $5 million and a written confirmation has been made stating the funds are expected shortly.

As quoted in the press release:

The Company has been in regular communication throughout this process with the principals of the fund and was advised yesterday that the investor´s internal financing process would be complete within days after which the funds will be immediately wired to Colt. This final tranche of the private placement is under the same terms as the previously-announced private placement, that is a price of $0.45 per share.

Click here to read the full Colt Resources (TSXV:GTP) press release.