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WEST KELOWNA, BRITISH COLUMBIA--(Marketwired - May 31, 2016) - COLORADO RESOURCES LTD. (TSX VENTURE:CXO) ("Colorado" or the "Company") is pleased to announce that, further to its press release of May 19, 2016, it has completed the second tranche of its non-brokered private placement (the "Offering") for aggregate gross proceeds of $2,091,425. The Offering consists of 9,274,931 (non-flow through) units of the Company (the "NFT Units") at an issue price of $0.35 per Unit and 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. |
