Coro Mining Closes First Tranche of Private Placement - Erie News Now | WICU & WSEE in Erie, PA

Coro Mining Closes First Tranche of Private Placement

Posted:

Vancouver, British Columbia--(Newsfile Corp. - September 25, 2017) - Coro Mining Corp. (TSX: COP) ("Coro" or the "Company") is pleased to announce the closing of the first tranche of the non-brokered private placement (the "Private Placement") announced September 11, 2017 and has now issued a total of 35,899,990 common shares, at a price of CA$0.13 per common share, raising gross proceeds of approximately CA$4,666,999. All common shares issued pursuant to the Private Placement are subject to a statutory four month hold period.

The Company now has 629,167,529 common shares issued and outstanding. It is anticipated that the proceeds of the Private Placement will be used to complete a Definitive Feasibility Study ("DFS") including geotechnical, metallurgical and infill drilling, to earn Coro's 75% interest in the project and to fast-track Marimaca to production. The remainder of the funds may be used for working capital purposes.

It is anticipated that the final tranche of the Private Placement will close in October.

About Coro Mining Corp.:

Coro is a copper producer in Chile with a strategy to grow through the discovery, development and operation projects at any stage of development, which are well located with respect to infrastructure and water, have low permitting risk, and have the potential to achieve a short and cost effective timeline to production. The Company's preference is for open pit heap leach copper projects, where minimizing capital investment and creating profitability are priorities and where the projected capital cost is financeable relative to the Company's market capitalization. The Company's assets include the Marimaca development project; its 65% interest in the SCM Berta company, which owns the Berta mine and Nora plant and the Llancahue prospect.

Contact Naomi Nemeth, VP Communications/IR at +1 (647) 556 1023, +1 (604) 682 5546 ext. 202, Toll free +1 877 702 2676, ext. 202 or nnemeth@coromining.com
Visit our website site at www.coromining.com
Email us at investor. info@coromining.com
Follow us on Twitter @coromining1

Cautionary Note Regarding Forward Looking Statements

Certain statements contained in this press release constitute forward-looking information within the meaning of applicable securities laws. These forward looking statements relate to future events or the Company's future performance, business prospects or opportunities including, without limitation, statements relating to the completion of the final tranche of the Private Placement and completion of the DFS. The Company believes that the expectations reflected in such forward looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward-looking information should not be unduly relied upon. These statements speak only as of the date of this press release. Forward looking information involves risks and uncertainties which may cause actual results to be materially different from those expressed or implied by such forward looking information. Such risk and uncertainties relate to, among other things: receipt of final Toronto Stock Exchange approval of the Private Placement and the Company's ability to find suitable investors for the second tranche Private Placement, management's discretion on the allocation of the proceeds of the Private Placement as well as other risks disclosed in the Company's documents filed from time to time with the securities regulators in the Provinces of British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, New Brunswick, Nova Scotia, Prince Edward Island and Newfoundland and Labrador. Accordingly, readers should not place undue reliance on forward-looking statements. Coro undertakes no obligation to update publicly or otherwise revise any forward-looking statements contained herein whether as a result of new information or future events or otherwise, except as may be required by law.

NOT FOR DISSEMINATION IN THE UNITED STATES

Information contained on this page is provided by an independent third-party content provider. Frankly and this Site make no warranties or representations in connection therewith. If you are affiliated with this page and would like it removed please contact pressreleases@franklyinc.com

Powered by Frankly
3514 State St. Erie, PA 16508
Newsroom: (814) 454-8812
Business offices: (814) 454-5201
WICU FCC Filing
WSEE FCC Filing
Share:
Share Stories
Submit your stories to our site!
Share Photos
Share your photos in our community galleries
RSS Feeds
All content © Copyright 2000 - 2017 WICU. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.
                   WICU/WSEE - 3514 State Street Erie, PA 16508 - (814) 454-5201 - info@wicu12.com