Coro Announces Private Placement
Suite 1280 – 625 Howe St
Vancouver, B.C. V6C 2T6
News Release
March 22, 2017
TSX SYMBOL: COP
www.coromining.com
NOT FOR DISSEMINATION IN THE UNITED STATES
Coro Announces Private Placement
March 22, 2017, Coro Mining Corp. (“Coro” or the “ Company”) (TSX Symbol: COP) is pleased to announce a
non-brokered private placement financing of up to 107,680,000 common shares at a price of CA$0.15 to raise
gross proceeds of up to CA$16,152,000 (the “Private Placement”). The proceeds of the Private Placement will
be used to fund the acquisition of Minera Rayrock Ltda. (see the Company’s news release dated August 4, 2016
for further details), continued exploration of the Company’s Marimaca Project and working capital purposes.
It is anticipated that Greenstone Resources L.P. (“ Greenstone”), the Company’s major shareholder, will
exercise its pre-emptive right to maintain its 55.66% share position and will acquire a minimum of 55,934,464
common shares under the Private Placement (the “ Minimum Greenstone Participation ”). If no other
subscribers participate in the Private Placement, Greenstone has agreed to acquire all 107,680,000 common
shares being offered (the “ Maximum Greenstone Participation ”), being 22.18% of the total outstanding
common shares, resulting in Greenstone’s ownership percentage increasing to 63.71% of the total outstanding
common shares.
Greenstone participated in the Company’s December 2016 private placement financing (the “ December
Financing”), acquiring 29,825,874 common shares at that time. Because Greenstone is an “insider” (as defined
in the TSX Company Manual) and assuming completion of the Maximum Greenstone Participation , the
107,680,000 common shares , when added to Greenstone’s common share s acquired pursuant to the
December Financing, will represent subscriptions of 30.84% of the common shares outstanding immediately
preceding the date the December Financing completed . Because this exceeds 10% of the Company’s issued
and outstanding common shares, the Toronto Stock Exchange will require shareholder ap proval of Greenstone
Maximum Participation, with any votes cast by Greenstone excluded. As permitted by Subsection 604(d) of the
TSX Company Manual, the Company intends to seek this approval by way of a written consent resolution of at
least 50% of disint erested shareholders (being shareholders other than Greenstone ). The Private Placement
also remains subject to approval of the Toronto Stock Exchange.
CORO MINING CORP.
“Alan Stephens”
Alan Stephens
President and CEO
News Release
(continued)
About Coro Mining Corp.:
Coro's strategy is to grow a mining business through the discovery, development and operation of "Coro type"
deposits. These are defined as 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 takes priority over maximizing NPV, where profitability is prioritized over
production rate, and finally, where the likely 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 includes the Berta and Nora operations; the Planta Prat project; the Llancahue prospect;
and a royalty on the San Jorge copper-gold project located in Argentina.
Contact Naomi Nemeth, VP Communications/IR at +1 (647) 556 1023, +1 (604) 682 5546, Toll free +1 877 702
2676 or [email protected]
Visit our website site at www.coromining.com
Email us at [email protected]
Follow us on Twitter @coromining1
Cautionary Note Regarding Forward Looking Statements
Certain statements contained in this press release cons titute 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, statement s relating to the completion of
the Private Placement. 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 shareholder approval of the Private Placement, receipt of Toronto Stock Exchange approval of the Private
Placement and the Company’s ability to find suitable investors for 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.