Colt Resources (GTP.V) announced it closed a private placement with Worldlink Resources from Hong Kong. Worldlink subscribed for 14.3M units at C$0.35/unit for a total consideration of $5M. This money will not be used to advance the company’s current assets, but are meant to acquire new advanced-stage near-term production assets (in Portugal) and for general working capital purposes.
Colt Resources seems to be well-financed now to advance its gold and tungsten assets in Portugal.
> Click here to read the press release
Disclosure: The author holds no position in Colt Resources. Please see our disclaimer for current positions.
