Colt Resources Inc COLTF

Update on PP

[explorer76]

MONTREAL, April 19, 2013 /CNW Telbec/ - Colt Resources Inc. ("Colt" or the "Company") (TSXV: GTP) (OTCQX: COLTF) (FRA: P01) is pleased to announce today that it expects the final portion of the private placement with the previously-announced, by way of press releases on February 6, 2013 and March 27, 2013, Asian-based strategic investor to be concluded within approximately one week. As previously disclosed, the Company has received an executed subscription agreement for $5 Million CAD from the investor which is a newly constituted Hong Kong-based resource investment fund, along with written confirmation that the funds are expected shortly with an explanation that the delay has been administrative in nature and is simply due to the closing procedures of the new investment fund. The Company has been in regular communication throughout this process with the principals of the fund and was advised yesterday that the investor´s internal financing process would be complete within days after which the funds will be immediately wired to Colt. This final tranche of the private placement is under the same terms as the previously-announced private placement, that is a price of $0.45 per share.