Trading Symbols:
GTP - (TSX-V)
COLTF - (OTCQX)
P01 - (FRANKFURT)
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR
DISSEMINATION IN THE
UNITED STATES/
MONTREAL, March 27, 2013 /CNW Telbec/ - Colt Resources Inc.
("Colt" or
the "Company") (TSXV: GTP) (OTCQX: COLTF) (FRA: P01) announces
today
that it expects the final portion of the private placement with
the
previously-announced, by way of a press release on February 6, 2013,
Asian-based strategic investor to be concluded on or about
April 18th,
2013. The Company has received an executed subscription
agreement for
$5 Million CAD from an investor which
is a newly constituted Hong
Kong-based resource investment fund, along with written
confirmation
this week that funds are expected shortly with an explanation that
the
delay has simply been administrative in nature and as a result of
the
Chinese New Year Holidays and by the
recent major elections in China.
This final tranche of the private placement will be under the
same
terms as the previously-announced private placement, that is a
price of
$0.45 per share.
The common shares issued by the Company will be subject to a
four-month
hold period in accordance with applicable Canadian securities
laws.
Completion of the final tranche of the private placement is subject
to
the receipt of all necessary regulatory, including the TSX
Venture
Exchange.
The Company is also pleased to announce that it plans to release
a
Preliminary Economic Analysis (PEA) for its Boa Fé gold mining
project
towards the end of April, followed by a PEA on its Tabuaço
tungsten
project in May.
This press release does not constitute an offer or a solicitation
of an
offer to buy any of the securities in the
United States. The securities
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 within the
United States unless an exemption
from such registration is available.
About Colt Resources Inc.
Colt Resources Inc. is a Canadian 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 and development projects in Portugal, where it is one
of the largest lease holders of mineral concessions in gold and
the
largest in tungsten.
The Company's shares trade on the TSX?V, symbol: GTP; the OTCQX,
symbol:
COLTF, and the Frankfurt Stock Exchange, symbol: P01.
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.