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Colt Resources (TSXV:GTP,OTCQX:COLTF) has agreed to sell the privately held Colt Resources Middle East for $611,027 to Richard Quesnel. Colt will also be proceeding with a close of its senior note offering, receiving $200,000 USD.
According to the press release:
[Richard Quesnel] will be purchasing up to 12,220,557 shares of privately held Colt Resources Middle East for $CAD 611,027. This offer has effectively triggered a right of first refusal by which all the remaining CRME shareholders now have 30 days to exercise their pro rata right to match Mr. Quesnel’s offer. Upon completion of this transaction, Colt will have divested itself completely of its CRME holdings and will be exclusively focused going forward on the development of its Portugal projects.
In addition, Colt will be proceeding with another closing of its Senior Note offering for which it has received $US 200,000 in the form of an executed promissory note which will be immediately convertible into the SN once appropriate documentation, regulatory filings and approvals are received.
Click here to read the Colt Resources Inc. (TSXV:GTP,OTCQX:COLTF) press release
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