February 26, 2013
TSX-V Symbol: CTR
Mr. Arndt Roehlig reports:
Vancouver, BC: Coltstar Ventures Inc. (the “Company”) is pleased to announce that it has completed shares for debt settlements by issuing a total of 1,672,919 shares at a price of $0.20 per share, for total debts being settled of approximately $335,000. The Company first announced on April 13, 2012 that it was negotiating shares for debt settlements totaling up to 2,000,000 shares valued at $400,000.
The Company received TSX-V Exchange approval on February 19, 2013 for this transaction.
The above settlement has been granted via a Partial Revocation Order by the British Columbia Securities Commission on January 17, 2013 and a Variation of Partial Revocation Order granted on February 22, 2013 pursuant to a Cease Trade Order having been issued against the Company on May 9, 2012.
The board of directors of the Company consists of Arndt Roehlig, Michael Sikich, Jon Lever and Fiore Aliperti. Management is continuing to work diligently with the regulators with the objective of having the Company’s shares reinstated for trading on the TSX-V Exchange as soon as possible.
On behalf of the Board of Directors:
/s/ “Arndt Roehlig”
Chief Executive Officer, President and Director
For further information please contact:
Telephone: (604) 569-1236