WorldLink Resources Ltd. - News Release
July 24 2013 - 6:10PM
OTC Markets
WorldLink Resources Ltd. - News Release
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WorldLink Resources Ltd. - News Release
Canada NewsWire
VANCOUVER, July 24, 2013
VANCOUVER, July 24, 2013 /CNW/ - WorldLink Resources Limited
("WorldLink"), a company incorporated under the laws of
Hong Kong, announces that
pursuant to a private placement subscription agreement
("Subscription Agreement") entered into between WorldLink
and Colt Resources Inc. (TSX-V: GTP,
OTCQX: COLTF and FWB: P01) ("Colt") on July 19, 2013, WorldLink acquired ownership and
control over
14,285,715 units (the "Units") of the Corporation (each such
Unit being comprised of one common
share of the Corporation (a "Common Share") and one-fourth
(1/4) of a common share purchase warrant (each whole
warrant, a "Warrant")), at a subscription price of
C$0.35 per Unit, for an aggregate
subscription price of C$5,000,000.25.
The Warrants acquired by WorldLink entitle it to purchase up to
3,571,428 Common Shares at an exercise price of C$0.45 per Common Share
on or before July 24, 2018. The
Warrants will be subject, at Colt's
discretion, to an accelerated exercise period after January 24, 2014 if
the VWAP of the Common Shares is equal to or greater than
C$0.90 for a
period of 30 consecutive trading days.
Following the Subscription, the Units (comprising the Common Shares
and
the Warrants) held by WorldLink represent approximately 11.7% of
the
issued and outstanding Common Shares of Colt (after giving effect
to
the exercise of the Warrants held by WorldLink but not the exercise
of
any other options, warrants or other securities convertible to
Common
Shares previously issued by Colt).
The Units were acquired in the normal course of WorldLink's
investment
activities. WorldLink may, directly or indirectly, at any time and
from
time to time, increase or decrease its beneficial ownership or
control
or direction of the Colt's securities depending on future economic
or
market conditions.
SOURCE WorldLink Resources Limited
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