Coronet Metals Announces Closing of Private Placement
February 06 2014 - 2:39PM
Marketwired
Coronet Metals Announces Closing of Private Placement
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 6, 2014) -
Coronet Metals Inc. ("Coronet" or the "Company")
(TSX-VENTURE:CRF)(OTCQX:CORMF)(FRANKFURT:2CM) is pleased to
announce that it has closed its previously announced non-brokered
private placement (the "Private Placement") and has issued
14,947,660 units ("Units") at a price of $0.05 per Unit for gross
proceeds of approximately $750,000. Each Unit is comprised of one
common share and one common share purchase warrant entitling the
holder to purchase one additional common share of Coronet at an
exercise price of $0.10 until February 5, 2016. The Company will
pay finders' fees of $1,800 in cash and 36,000 in finder's warrants
in connection with the Private Placement.
All securities issued pursuant to the Private Placement are
subject to a statutory four-month hold period. The proceeds from
the Private Placement will be used for funding improvements to the
current circuit and the on-site Laboratory at the Liberty Gold
facility in Nevada as well as for general corporate purposes.
About Coronet
Metals Inc.
Coronet Metals Inc.'s objective is to become a gold
development and production company. The management team has
experience in all aspects of the development and financing of
resource projects in North and South America. Coronet owns the
Yanamina Gold Project in Peru, the White Caps Gold Mining, Company
Inc. Gold Project in Nevada and the Liberty Precious Metals Testing
and Processing Facility in Nevada.
This news release contains certain forward‐looking
statements about operations, finance and the use of proceeds of the
Private Placement, and such statements involve risks and
uncertainties. The results or events predicted may differ
materially from actual results or events. Any forward‐looking
statement speaks only as of the date of this news release. Except
as may be required by applicable securities laws, the Company
disclaims any intent or obligation to update any forward‐looking
statement, whether as a result of new information, future events or
results, or any other occurrence.
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.
Coronet Metals Inc.Theo van der LindePresident and CFO+1 902 403
7258tvanderlinde@coronetmetals.comwww.coronetmetals.com
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