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Colorado Resources (TSXV:CXO) has announced a non-brokered private placement

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The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to approximately 2.2 million units priced at $0.70 per unit. The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $1.00 for 24 months.

Additional Information:

Company: Colorado Resources
Website: http://www.ColoradoResources.com
Stock Symbol: TSXV: CXO
Date Published: Aug 26, 2020
Transcript: Available

Video Transcript:

I’m Cassandra Bolinski for Investmentpitch Media

Colorado Resources has announced a non-brokered private placement.

The company is looking to raise gross proceeds of up to $1.5 million from the placement of up to approximately 2.2 million units priced at $0.70 per unit.

The units consist of 1 share and one-half a warrant, with each full warrant exercisable at $1.00 for 24 months.

The proceeds will be used for working capital purposes and for exploration on the company's mineral properties.

The shares are currently trading at $0.60, following the recent 1 for 10 consolidation.

Tony Barresi, President, stated: "This financing is in-line with Colorado's methodical and stepwise approach to recapitalization, rebranding, and value creation. With new motivated management and technical teams, a fresh capital structure, and an enviable portfolio of properties in British Columbia's hottest exploration districts, Colorado is positioning itself for a return to prominence. This financing will allow the team at Colorado to focus on two critical activities, first, building public confidence in the new management and technical teams through investor outreach and engagement, and second demonstrating the ability of the new team through design and execution of an aggressive multi-property exploration program in 2021."

The company is exploring for high-grade gold and copper with a focus on the Golden Triangle and Toodoggone areas, two of the most prospective metallogenic regions in British Columbia, where the company has several principal projects.

The property portfolio includes the company's flagship Castle property, a porphyry copper-gold project located in the Red Chris mining district of the Golden Triangle neighbouring GT Gold's Tatogga property, and Newcrest Mining's GJ property, along with the KSP, North ROK, ROK-Coyote, and Kingpin properties in the Golden Triangle, and Sofia in the Toodoggone district.

The company also has two properties in other strategic districts within British Columbia, the 100% owned 14,396 hectare Heart Peaks property, located approximately 45 kilometers northeast of the past producing Golden Bear Mine and 120 kilometers west of the village of Dease Lake, and the 100% owned 1,052 hectare Hit property, located 30 kilometers north of Princeton and 43 kilometers north of Copper Mountain.

These assets are being advanced by a newly assembled technical and management team with experience in exploration, permitting and discovery.

For more information, please visit the company’s website at www.ColoradoResources.com, contact Joseph Mullin, CEO, at 250-758-1511 or by email at info@ColoradoResources.com.

I’m Cassandra Bolinski for Investmentpitch Media