Coronet Metals Closes Private Placement
Vancouver, British Columbia--(Newsfile Corp. - September 25, 2013) - Coronet Metals Inc. (TSXV: CRF) (OTCQX: CORMF) (FWB: 2CM) ("Coronet" or the "Company") is pleased to announce that it has closed the nonbrokered private placement (the "Private Placement") announced on September 03, 2013. Coronet has issued 13,517,000 units at a subscription price of $0.05 per unit, for aggregate gross proceeds of $675,850. Each unit is comprised of one common share (each, a "Share") and one common share purchase warrant (each, a "Warrant") entitling the holder to purchase one additional Share (a "Warrant Share") of Coronet at $0.10 at any time for a period of two years from the closing date of the Private Placement. The Company will pay finders' fees of $3,400 in cash and 500,000 in finder's warrants in connection with the Private Placement. All securities issued pursuant to the Private Placement will be subject to a four-month hold period expiring on January 25, 2014. The proceeds from the Private Placement will be used to complete commissioning of 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 and finance, 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.