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Colt Resources Updates Private Placement

Colt Resources Inc. (GTP.V) said that it expects the final portion of the private placement with the previously-announced, Asian-based strategic investor to be concluded on or about April 18, 2013.

The company has received an executed subscription agreement for $5 Million 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. The investor said the delay was administrative in nature and as a result of the Chinese New Year Holidays and the recent major elections in China.

Colt also announced that it plans to release a Preliminary Economic Analysis for its Boa Fe gold mining project towards the end of April, followed by a PEA on its Tabuaco tungsten project in May.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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