News wire article from our research archive:

Colt to Proceed With a Private Placement.

RICHMOND, BRITISH COLUMBIA, Jul 3, 2008 (Marketwire via COMTEX) -- Colt Resources Inc. (the "Company") (CNQ:COLT) wishes to announce that it intends to proceed with a non-brokered private placement consisting of up to 20,000,000 units at a price of $0.25 per unit to raise gross proceeds of up to $5,000,000.

Each unit consists of one common share and one share purchase warrant. Each warrant will entitle the holder to purchase one common share at a price of $0.30 per share for a period of thirty-six months from closing. The Company intends to use the proceeds for exploration expenditures on the Company's mineral properties in Portugal and for general working capital ...

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