GUERNSEY, CHANNEL ISLANDS--(Marketwired - April 4, 2017) - Further to the press releases of Coro Mining Corp. ("Coro") of 4 April 2017 and Greenstone Resources L.P. ("Greenstone") of 24 March 2017, Greenstone announces that it has subscribed for 59,935,464 common shares of Coro, at a price per common share of C$0.15, for aggregate gross proceeds of US$6,678,908 (C$8,990,320) (the "Greenstone First Tranche Subscription"). The Greenstone First Tranche Subscription forms part of a larger proposed non-brokered private placement of up to 107,680,000 common shares of Coro (the "Private Placement"), as disclosed by Coro in its press release of 22 March 2017.
As a result of the completion of the Greenstone First Tranche Subscription, Greenstone currently has ownership of and control over 330,216,988 common shares of Coro, representing approximately 58.9% of the total issued and outstanding common shares of Coro. As disclosed in its press release of 24 March 2017, Greenstone has agreed that it (through an affiliate) will, in certain circumstances, subscribe for additional shares of Coro to be offered in the Private Placement (the "Greenstone Maximum Subscription").
Assuming completion of the Greenstone Maximum Subscription, Greenstone (together with its affiliate) will have ownership of, and control over, approximately 362,369,857 common shares of Coro, representing approximately 61.08% of the total issued and outstanding common shares of Coro.
Greenstone acquired the common shares of Coro for investment purposes. Depending on market conditions and other factors, Greenstone may from time to time acquire and/or dispose of securities of Coro or continue to hold its current position. A copy of the early warning report required to be filed with the applicable securities commission in connection with the transactions will be available on SEDAR at www.sedar.com and can be obtained by contacting Joanna Duquemin Nicolle and Sadie Morrison at +44 1481 810 100. Greenstone's address is set out below.