Greenstone Resources L.P. Acquisition of Common Shares of Coro Mining Corp.
(firmenpresse) - GUERNSEY, CHANNEL ISLANDS -- (Marketwired) -- 06/13/16 -- Further to its press release dated May 24, 2016, Greenstone Resources L.P. ("Greenstone") announces that it has acquired 34,000,000 common shares (the "Purchased Shares") of Coro Mining Corp. ("Coro" or the "Company") in connection with the previously announced private placement of up to 100,000,000 common shares of the Company (the "Private Placement").
The Purchased Shares were acquired by Greenstone at a price per Purchased Share of C$0.10, for aggregate proceeds of C$3,400,000, payable in USD (the "Tranche 1 Placement"). Immediately prior to the completion of the Tranche 1 Placement, Greenstone had ownership of and control over a total of 186,530,000 common shares of Coro, representing approximately 53.9% of the issued and outstanding common shares. As a result of the completion of the Tranche 1 Placement, Greenstone currently has ownership of and control over 220,530,000 common shares of Coro, representing approximately 58.0% of the issued and outstanding common shares of Coro.
In addition, as disclosed in the press release dated May 24, 2016, in the event that Coro is not able to raise an additional C$4.61m under the Private Placement from subscribers other than Greenstone, Greenstone has agreed, subject to satisfaction of customary conditions and the approval by shareholders of Coro other than Greenstone, to subscribe for up to 66,000,000 additional common shares of Coro at a price per common share of C$0.10 (to be converted into US dollars) (the "Tranche 2 Placement"), representing 64.3% of the issued and outstanding common shares of Coro post-conversion of the Convertible Debentures and post completion of the Tranche 1 Placement.
Coro and Greenstone have agreed that the amount of the Tranche 2 Placement shall be no less than such number of common shares as will result in Greenstone owning at least 53.9% of the issued and outstanding common shares of Coro after completion of the Tranche 2 Placement.
Greenstone acquired the Purchased Shares for investment purposes. Depending on market conditions and other factors (including pursuant to the proposed Tranche 2 Placement,), Greenstone may from time to time acquire and/or dispose of securities of Coro or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commission in connection with the transactions will be available on SEDAR at and can be obtained by contacting Joanna Duquemin Nicolle and Sadie Morrison at +44 1481 810 100. Greenstone's address is set out below.
Contacts:
Joanna Duquemin Nicolle and Sadie Morrison
+44 1481 810 100
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 13.06.2016 - 17:10 Uhr
Sprache: Deutsch
News-ID 477335
Anzahl Zeichen: 0
contact information:
Town:
GUERNSEY, CHANNEL ISLANDS
Kategorie:
Mining & Metals
Diese Pressemitteilung wurde bisher 210 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"Greenstone Resources L.P. Acquisition of Common Shares of Coro Mining Corp."
steht unter der journalistisch-redaktionellen Verantwortung von
Greenstone Resources L.P. (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
