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WEST KELOWNA, BRITISH COLUMBIA--(Marketwired - June 3, 2016) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") announces that, further to its news release of June 1, 2016 the Company has received TSX Venture Exchange ("Exchange") final approval and closed the non-brokered private placement by issuing an aggregate 9,274,931 (non-flow through) units of the Company (the "NFT Units") at an issue price of $0.35 per Unit and an aggregate 3,542,334 common shares of the Company that qualify as flow-through shares for purposes of the Income Tax Act (Canada) and 1,771,167 warrants (one share and half a warrant being a "FT Unit") at an issue price of $0.42 per FT Unit for aggregate gross proceeds of $4,734,005. |
