Coral Gold Closes Private Placement-Final Closing
April 26 2010 - 8:00AM
Marketwired
Coral Gold Resources Ltd. (the "Company") (TSX VENTURE: CLH)(OTCBB:
CLHRF)(BERLIN: GV8)(FRANKFURT: GV8) has closed the second tranche
of a non-brokered private placement with aggregate gross proceeds
of $965,250 from the sale of 1,755,000 units (the "Units") at a
price of $0.55 per unit. Each Unit is comprised of one common share
and one non-transferrable share purchase warrant (a "Warrant").
Each Warrant entitles the holder to purchase one additional common
share at a price of $0.75 with a term of two (2) years until April
23, 2012. The common shares issued, and any common shares issued
pursuant to the exercise of Warrant prior to August 24, 2010 will
be restricted from trading until August 24, 2010.
The Company paid total finders' fees of $28,325 in cash and
19,000 in warrants to individuals and brokers assisting in the
financing.
The finder's warrants will entitle the finders to purchase one
additional common share with a term of one (1) year until April 23,
2011 at a price of $0.75.
The total gross proceeds raised, including the first closing,
amounted to $3,849,999.90 and a total of 7,000,120 units have been
issued.
The net proceeds of this Offering will be used to advance the
Company's Robertson gold project at Crescent Valley, Nevada towards
the work program announced on February 2, 2010 and general working
capital requirements.
For more information on the Robertson Property and Coral Gold's
other Nevada projects, visit the company's website at
www.coralgold.com.
ON BEHALF OF THE BOARD
David Wolfin, President
This release contains statements that are forward-looking
statements and are subject to various risks and uncertainties
concerning the specific factors disclosed under the heading "Risk
Factors" and elsewhere in the Company's periodic filings with
Canadian securities regulators. Such information contained herein
represents management's best judgment as of the date hereof based
on information currently available. The Company does not assume the
obligation to update any forward-looking statement.
Neither 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.
Contacts: Coral Gold Resources Ltd. David Wolfin President
604.682.3701 604.682.3600 (FAX) info@coralgold.com
www.coralgold.com
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