Mr. Theo van der Linde
reports
CLOSING OF FLOW THROUGH PRIVATE PLACEMENT
Coronet Metals Inc. has completed a non-brokered private placement of 11,025,000 flow-through shares at a subscription price of 20 cents per flow-through share for gross proceeds to the company of $2,205,000. Each flow-through share has been issued within the meaning in the Income Tax Act (Canada); therefore, proceeds from this offering will be used on qualifying Canadian exploration expenditures pursuant to the Income Tax Act (Canada). The flow-through shares issued in connection with this offering will be subject to a statutory hold period of four months and one day.
No finders' fees have been paid in connection with this offering.
We seek Safe Harbor.
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