Colt Resources Inc. proposes to extend and amend warrants
Trading Symbols: GTP - (CNSX) P01 - (FRANKFURT) COLTF.PK - (USA OTC Pink Sheets)
MONTREAL, Sept. 10 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") proposes to extend 3,908,000 warrants expiring on December 30, 2010 until February 26, 2012 and amending the strike price from $0.30 to $0.45. The Company offers to all warrant holders 30 calendar days from today to review and accept such terms. Warrant holders who do not wish to accept the extension and amended strike price or do not accept within the 30 days will remain with the original terms and conditions of their warrants.
The Company advises all warrant holders to seek independent tax advice concerning the extension and amended pricing.
About Colt Resources Inc.
Colt Resources Inc. is a Canadian based junior exploration company engaged in acquiring, exploring, and developing mineral properties with an emphasis on tungsten and gold. It is currently focused on advanced stage exploration projects in Portugal, where it is the second largest lease holder of mineral concessions.
Colt's most advanced projects include the Tabuaço tungsten project and the Penedono gold project, located on the company's Armamar-Meda and Penedono concessions, respectively. Both projects have seen recent drill programs with very encouraging high grade tungsten and gold grades, respectively (see press releases: http://www.coltresources.com/en/press_releases).
Portugal is a mining-friendly country of the European Union (EU) with easy access, excellent infrastructure and a hard-working available labour force. Colt maintains excellent government relationships at both state and municipal levels. The company is currently reviewing potential EU financial incentive programs.
The Company's shares trade on the Canadian National Stock Exchange (CNSX), symbol: GTP; the USA OTC Pink Sheets under the symbol: COLTF.PK; and on the Frankfurt Stock Exchange, symbol: P01.
Statements made in this news release that relate to future plans, events or performances are forward-looking statements. Any statement in this release containing words such as "believes", "anticipates", "plans", "expects" or "intends" and other statements that are not historical facts are forward-looking, and these statements involve risks and uncertainties and are based on current expectations. Consequently, actual results could differ materially from the expectations expressed in those forward-looking statements. The CNSX has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
For further information: Nikolas Perrault, President & CEO, Colt Resources Inc., Tel: (514) 394-0009 Ext: 1, Fax: (514) 635-6100, [email protected]; Aurelio Useche, Director & CFO, Colt Resources Inc., Tel: (514) 394-0009 Ext: 2, Fax: (514) 635-6100, [email protected]; Helen Bilhete, Director Investor Relations, Colt Resources Inc., Tel: (514) 394-0009 Ext: 5, Fax: (514) 635-6100, [email protected]
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