Colombia Crest Gold Announces Closing of Private Placement

Marketwired

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jul 18, 2013) - Colombia Crest Gold Corp. ("Colombia Crest"; the "Company") (TSX VENTURE:CLB) (ECRTF) (FRANKFURT:EAT) reports that the non-brokered private placement of units (each a "Unit") announced on June 24, 2013 was completed on July 15, 2013. The Company issued 9,733,333 Units at the price of $0.015 per Unit to raise gross proceeds of $146,000. Each Unit is comprised of one common share and one transferable share purchase warrant. Each warrant entitles the holder to purchase one additional common share at the price of $0.05 for one year after Closing, $0.10 during the second year after Closing and $0.15 during the third year after Closing.

Proceeds from the financing will be used for the following purposes:

Finder's Fee $ 7,000
Field costs - Colombia 49,165
Payroll - Colombia 54,463
Office - Colombia 20,091
Assays - Colombia 2,500
Accounting/legal/taxes - Colombia 10,559
Environment - Colombia 2,222

The Company has paid a cash finder's fee in the amount of $7,000 and issued finder's warrants exercisable to purchase up to 466,667 shares for $0.10 each for a period of two years after Closing. All shares issued pursuant to the offering, and any shares issued pursuant to the exercise of warrants or finder's warrants will be subject to a four-month hold period from the Closing date, and may not be traded until November 16, 2013.

EuroSwiss Capital Agreement Options

Further to the news release dated July 2, 2013, Colombia Crest is pleased to announce that the Company has granted incentive stock options to Euroswiss Capital Partners for the purchase of up to 200,000 common shares of Colombia Crest at a price of $0.10 per share expiring July 2, 2016. These options are vested over a one-year period with 50,000 options becoming exercisable every three months commencing October 2, 2013.

These incentive options as announced are subject to acceptance by the TSX Venture Exchange.

About Colombia Crest Gold Corp.

Colombia Crest Gold Corp. is focused on systematically exploring, developing and monetizing promising new gold projects in Colombia. The Company is currently carrying on exploration programs at the Fredonia and Venecia projects where it has optioned over 15,000 hectares located approximately 40 km south of the city of Medellín, in Antioquia Province. The properties are positioned within the Middle Cauca Belt, the most prolific gold belt in Colombia with more than 500 years of gold mining history and several new gold discoveries.

If you would prefer to receive news releases via email please contact Colombia Crest (info@ColombiaCrestGold.com) and specify "Colombia Crest news" in the subject line.

Contact:
Colombia Crest Gold Corp.
Hans Rasmussen
President and CEO
604-684-7160 or Cellular: 801-554-2074
hans@colombiacrestgold.com
Colombia Crest Gold Corp.
Chelsea Jones
Corporate Communications
Cellular: 604-354-2435
chelsea@colombiacrestgold.com
www.colombiacrestgold.com

Rates

View Comments (0)