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To: Goose94 who wrote (3591)12/20/2013 4:01:15 PM
From: Goose94Respond to of 202401
 
Coro Mining (COP-V) has closed the first tranche of its previously announced non-brokered private placement of up to 22.5 million units at a price of 10 cents per unit to raise gross proceeds of up to $2.25-million.

Dec 20, 2013 - News Release

10,873,246 Units were issued in the first tranche for gross proceeds of the Company of approximately $1,087,325. Each Unit is comprised of one common share of the Company and one half of a common share purchase warrant (each whole warrant, a "Warrant"). Each Warrant will entitle the holder to acquire an additional common share of the Company at an exercise price of $0.15 for a period until December 20, 2016. The Warrants will be subject to a forced exercise provision after one year in the event the volume weighted average trading price of the Company's common shares on the Toronto Stock Exchange is equal to or above $0.30 for 20 consecutive trading days.

Cash finder's fees of 6% of the proceeds were paid on a portion of the Private Placement. The net proceeds of the Private Placement will be used to complete a diamond drill program at the Company's El Desesperado Property and for general working capital purposes. All securities issued pursuant to the Private Placement are subject to a statutory hold period of four months and one day from the date of issuance.

The Company anticipates closing the second tranche of the Private Placement in January 2014.



To: Goose94 who wrote (3591)12/23/2013 9:21:16 AM
From: Goose94Read Replies (2) | Respond to of 202401
 
Benton Capital (BTC-V) increases holdings in Coro Mining (COP-T) to 41%. Stephen Stares, President and CEO of Benton stated, "We feel that the Coro team has done an excellent job in navigating though these challenging times in our sector and are pleased to provide our support in this very important private placement. These funds will assist Coro in completing diamond drilling on the very prospective El Desesperado copper project in mining-friendly Chile and we await the results of that program with much excitement."