Coro Mining closes $5.25-million private placement

Dec 24, 2016

CORO ANNOUNCES CLOSING OF PRIVATE PLACEMENT

Further to its announcement on Dec. 14, 2016, Coro Mining Corp. has closed the previously announced private placement and issued a total of 37,522,859 common shares, at a price of 14 cents per common share, raising gross proceeds of approximately $5,253,200. All common shares issued pursuant to the private placement are subject to a statutory four-month hold period.

Greenstone Resources LP, the company’s major shareholder, acquired 29,825,874 common shares pursuant to the private placement. Following completion of the private placement, Greenstone how holds approximately 55.9 per cent of the company’s outstanding common shares.

The company now has 483,425,039 common shares issued and outstanding. The proceeds of the private placement will be used to build out the Berta facilities, for further exploration of the Marimaca project and for general working capital purposes.

About Coro Mining

Coro’s assets include its 65-per-cent interest in SCM Berta, including the Berta and Salvadora deposits; the Marimaca drill-stage project; the Planta Prat project; the Llancahue prospect; and a royalty on the San Jorge copper-gold project located in Argentina.

http://www.coromining.com/s/newsreleases.asp