Coltstar Ventures Closes Financing
Vancouver, British Columbia CANADA, January 13, 2012 /FSC/ – Coltstar Ventures Inc. (CTR – TSX Venture)(the “Company” or “Coltstar”) announces the closing of a non-brokered private placement of 4,468,333 units (the “Units”) at a price of $0.075 per Unit, for gross proceeds of $335,125. Each Unit consists of one common share and one-quarter (1/4) of one common share purchase warrant (the “Warrants”). Each whole Warrant entitles the holder to purchase one additional common share of the Company for a period of 24 months from January 13, 2012, for an exercise price of $0.10 per common share.
The common shares issued under the Offering and upon exercise of the Warrants are subject to a four-month hold period from January 13, 2012.
Proceeds will be used for working capital.
Coltstar Ventures is a mineral exploration company that is currently exploring for base and precious metals in Canada and Italy.
On behalf of the Board of Directors
President and CEO of Coltstar Ventures Inc.
For further information please contact:
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.