Greenstone Resources L.P.

Greenstone Resources L.P.

October 16, 2017 10:00 ET

Subscription for Common Shares of Coro Mining Corp.

GUERNSEY, CHANNEL ISLANDS--(Marketwired - Oct. 16, 2017) - Further to the press releases of Coro Mining Corp. ("Coro") of 25 September 2017 and 16 October 2017, Greenstone Resources L.P. ("Greenstone") announces that it has, together with its affiliate, Greenstone Co-Investment No. 1 (Coro) L.P., subscribed for a total of 51,715,665 common shares of Coro, at a price per common share of C$0.13, for aggregate gross proceeds of C$6,723,036 (the "Greenstone Subscription"). The Greenstone Subscription occurred in two tranches, the second of which occurred on 13 October 2017, and formed part of a larger non-brokered private placement by Coro of 56,561,973 common shares of Coro, as disclosed by Coro in its press release of 16 October 2017.

Immediately prior to the completion of the Greenstone Subscription, Greenstone and its affiliate had ownership of and control over 362,369,857 common shares of Coro, representing approximately 61% of the total issued and outstanding common shares of Coro. As a result of the completion of the Greenstone Subscription, Greenstone acquired an additional interest of approximately 2.7% in the issued and outstanding common shares of Coro, and currently has ownership of and control over 414,085,522 common shares of Coro, representing approximately 63.7% 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.

Contact Information

  • Greenstone Resources L.P.
    1st Floor, Royal Chambers
    St Julian's Avenue
    St Peter Port, Guernsey

    Coro Mining Corp
    Suite 1280 - 625 Howe Street
    Vancouver, BC
    Canada V6C 2TB