COLORADO RESOURCES LTD. (TSX VENTURE:CXO) is pleased to announce it will conduct a non-brokered flow through private placement of up to 5,000,000 flow-through common shares of Colorado at a price of $0.80 per Flow-Through Share for gross proceeds of $4,000,000 of which 2,500,000 Flow-Through Shares have been allocated to one institutional purchaser.
Proceeds from the Financing will be used primarily to advance exploration activities on the Company’s North ROK and other Canadian properties.
Colorado may pay finder’s fees on a portion of the Financing in accordance with TSX Venture Exchange guidelines. All securities issued under the Financing will be subject to a four month hold period from the date of issuance. The proposed Financing is subject to the approval from the Exchange.
Colorado is engaged in the business of mineral exploration for the purpose of acquiring and advancing mineral properties located in British Columbia and the Yukon and is also aggressively seeking quality properties in the US southwest and Latin America. Colorado’s current exploration focus is on the Red Chris area.
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