Coltstar Announces Second Partial Closing of Private Placement of 1,371,429 Units
Coltstar Ventures Inc.
Suite 1680, 200 Burrard Street Vancouver, BC Canada V6C 3L6
COLTSTAR ANNOUNCES SECOND PARTIAL CLOSING OF PRIVATE PLACEMENT OF 1,371,429 UNITS
June 18, 2010 TSX Venture Exchange Canadian Trading Symbol: CTR
Coltstar Ventures Inc. (the "Company") announces that it has finalized the closing of the second tranche of its private placement (the "Offering") of 1,371,429 units (the "Units") at a price of $0.35 per Unit for gross proceeds of Cdn $480,000. The Offering was previously announced by the Company on June 1, 2010. Each Unit consists of one common share and one quarter of one common share purchase warrant (the "Warrants"). Each Warrant entitles the holder to purchase one additional common share of the Company for one year from June 18, 2010, at a price of $0.50 per share. The common shares issued under the Offering and upon exercise of the Warrants are subject to a four-month hold period expiring on October 19, 2010. The Company expects to close the remaining offering totalling the full 3 million units by the middle of next week.
Also, the Company clarifies that further to its announcement on June 8th, 2010, the warrants issued under the convertible debentures are exercisable for five years from June 7th, 2010 and the hold period will end on October 8th, 2010.
The Company is a mineral exploration company that is currently exploring for base and precious metals in Europe and Canada.
On behalf of the Board of Directors
“Damien Reynolds”
Chairman, President and CEO of Coltstar Ventures Inc.
For further information please contact:
Garry Stock Telephone: (604) 683-8236
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.