NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE
UNITED STATES
Trading Symbols:????????
GTP - (TSX-V)
P01 - (FRANKFURT)
COLTF - (OTCQX)
MONTREAL, Oct. 16, 2013 /CNW Telbec/ - Colt Resources Inc.
("Colt" or the "Company") (TSXV: GTP) (FRA: P01) (OTCQX: COLTF)
is
pleased to announce that it has completed a non-brokered
private
placement with a leading industry player (the "Non-Brokered
Private
Placement"). Pursuant to the Non-Brokered Private Placement,
the
Company has issued 6.25 million common shares at a price of
US$0.40 per
share, for net proceeds to the Company of $US2.5 million.
Colt's CEO, Nikolas Perrault stated
"The near 30% premium obtained above
our 30-day VWAP is a strong vote of confidence."? Proceeds from
the
Non-Brokered Private Placement will be applied towards feasibility
work
on both Colt's Boa F? Montemor gold and Tabua?o tungsten projects
in
Portugal as well as for general
working capital purposes.
The common shares issued and sold under the Non-Brokered
Private
Placement will be subject to a four-month hold period in
accordance
with Canadian securities laws.
This press release does not constitute an offer to sell or a
solicitation of an offer to buy any of securities in the United States.
The common shares have not been and will not be registered under
the
United States Securities Act of 1933, as amended, or
any state securities laws and may not be offered or
sold in the United States absent
registration or an applicable
exemption from the registration requirements.
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 OTCQX, symbol: COLTF.
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.