TSX-V: CXO
VANCOUVER, BC, June 30, 2020 /CNW/ - COLORADO RESOURCES LTD. (TSX-V: CXO)
("Colorado" or the
"Company") announces that in accordance with the terms of
its 10% rolling Stock Option Plan, it has granted 1,050,000 stock
options, subject to regulatory approval, to an Officer, employees
and a technical consultant of the Company, all of whom are part of
the growing Colorado technical
team. Each stock option is exercisable into one common share of the
Company at an exercise price of $0.09
per share with an expiry of June 29,
2025.
We seek safe harbor.
About Colorado
Colorado Resources Ltd. is exploring for high-grade gold and
copper in the Golden Triangle and the Toodoggone area of
British Columbia. The portfolio
includes the flagship Castle property, a porphyry copper-gold
project located in the Red Chris mining district of the Golden
Triangle neighbouring GT Gold's Tatogga property. Other properties
include the KSP, North ROK/ROK-Coyote, Kingpin, Heart Peaks and
Sofia properties in British Columbia. These assets are being
advanced by a newly assembled technical and management team with
experience in exploration, permitting and discovery.
ON BEHALF OF THE BOARD OF DIRECTORS OF COLORADO RESOURCES LTD.
"Joseph
Mullin"
Joseph Mullin
Chief Executive Officer and Director
Cautionary Note Regarding Forward-Looking
Statements
All statements, trend analysis and other information
contained in this press release about anticipated future events or
results constitute forward-looking statements. Forward-looking
statements are often, but not always, identified by the use of
words such as "seek", "anticipate", "believe", "plan", "estimate",
"expect" and "intend" and statements that an event or result "may",
"will", "should", "could" or "might" occur or be achieved and other
similar expressions. All statements, other than statements of
historical fact, included herein, including, statements regarding
the use of proceeds of the Placements are forward-looking
statements. Although the Company believe that the expectations
reflected in such forward-looking statements and/or information are
reasonable, undue reliance should not be placed on forward-looking
statements since the Company can give no assurance that such
expectations will prove to be correct. These statements involve
known and unknown risks, uncertainties and other factors that may
cause actual results or events to differ materially from those
anticipated in such forward-looking statements, including the
risks, uncertainties and other factors identified in the Companies'
periodic filings with Canadian securities regulators as well as the
risk that the ongoing COVID-19 pandemic may have on the Company's
business. Important factors that could cause actual results to
differ materially from Colorado
expectations include the risk that management of the Company
determines to use the proceeds of the Placements in a way that is
not currently contemplated. Forward-looking statements are
based on estimates and opinions of management at the date the
statements are made. Colorado does
not undertake any obligation to update forward-looking statements
except as required by applicable securities laws. Investors should
not place undue reliance on forward-looking statements.
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 Colorado Resources Ltd.