VANCOUVER, April 29, 2019 /CNW/ – Coronado Resources Ltd. (NEX: CRD.H) advises that further to its press release dated February 27, 2019, the Company has (subject to regulatory approval) completed a non-brokered private placement of 2,210,000 shares at C$0.50 per share for gross proceeds of $1,105,000. The common shares issued under this private placement will be subject to resale restrictions for a period of four months from the closing date.
The proceeds from the private placement, together with existing working capital, will be used to advance the development of Coronado\’s technology business.
Trading in Coronado\’s shares will remain halted pending final approval by the TSX Venture Exchange to formally close Coronado’s acquisition of Skyrun Technology Corp. as announced on August 28, 2018, along with the private placement and name change to Interlapse Technologies Corp.
Completion of the private placement is subject to several conditions, including TSX-V final acceptance. There can be no assurance that the private placement will be completed as proposed or at all. Investors are cautioned that any information released or received with respect to the private placement may not be accurate or complete and should not be relied upon. Trading in the securities of Coronado should be considered highly speculative. The TSX-V has in no way passed upon the merits of the Offering and has neither approved the private placement nor disapproved the contents of this press release.
Neither TSX-V nor its Regulation Services Provider (as that term is defined in the policies of the TSX-V) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Note Regarding Forward-Looking Statements:
Statements contained in this news release that are not historical facts are forward-looking statements that involve various risks and uncertainty affecting the business of Coronado. Such statements can generally, but not always, be identified by words such as \”expects\”, \”plans\”, \”anticipates\”, \”intends\”, \”estimates\”, \”forecasts\”, \”schedules\”, \”prepares\”, \”potential\” and similar expressions, or that events or conditions \”will\”, \”would\”, \”may\”, \”could\” or \”should\” occur. Forward-looking statements and information concerning anticipated financial performance are based on management\’s assumptions using information currently available. Forward-looking statements in this news release include Coronado\’s expectations regarding the ability to complete, and the anticipated results of, the private placement.
In making the forward-looking statements in this news release, Coronado has applied certain factors and assumptions that are based on information currently available to Coronado as well as Coronado\’s current beliefs and assumptions made by Coronado, including that Coronado will be able to complete the private placement. Although Coronado considers these beliefs and assumptions to be reasonable based on information currently available to it, they may prove to be incorrect, and the forward-looking statements in this release are subject to numerous risks, uncertainties and other factors that may cause future results to differ materially from those expressed or implied in such forward-looking statements. Such risk factors include, among others, market conditions, changes in the applicable regulatory regime, changes to the cryptocurrency market, and risks inherent in the development of a start-up plan business. Although Coronado has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking information. Coronado does not undertake to update any forward-looking information, except in accordance with applicable securities laws.