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Coronado Reports Year-End Results for Fiscal 2018
Coronado Reports Year-End Results for Fiscal 2018 Canada NewsWire VANCOUVER, Jun...
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[{"type":"text","content":"\n\n\n\nCoronado Reports Year-End Results for Fiscal 2018\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nVANCOUVER, June 19, 2018\n\n\n\nVANCOUVER, June 19, 2018 /CNW/ - Coronado Resources Ltd. (NEX: CRD.H) (OTC: CRDAF) is pleased to report a financial summary for the year ended February 28, 2018. Coronado's prime objective, from a financial perspective, has been to keep sustaining costs to a minimum and preserve working capital, allowing the Company to have maximum flexibility and a solid capital market platform to pursue new opportunities. \n\n\n \n \n\n \nThe overall financial performance for the year ended February 28, 2018, reflected a net loss of $90,679 compared to loss of $5,442,967 in the previous year. The previous year's loss from past operations mainly included the loss on the sale of the mineral property and equipment amounting to $5,105,607.\n\nAs at February 28, 2018, Coronado's working capital was $1,572,606 with no material liabilities and a loss carry-forward of $6,628,042, which can potentially be used to offset tax on future revenue.\n\nOn October 20, 2017, Coronado consolidated its outstanding share capital on the basis of two pre-consolidation common shares for one post consolidation common share. \n\nOn January 18, 2018, the Company issued 400,000 units (\"Units\"), at a price of $0.375 per Unit, for proceeds of $150,000 in a non-brokered private placement. Each Unit consists of one common share and one common share purchase warrant to purchase an additional common share of the Company at a price of $0.50 per common share for a period of one year from the date of closing.\n\nMoving forward, Coronado continues to evaluate business opportunities and an organic growth strategy in the technology sector. In this regard, the Company has engaged in discussions with technology and capital market advisors, however there is no assurance that these discussions will result in a new business opportunity materializing.\n\nAs at today's date, Coronado has 3,231,411 common shares issued and outstanding (3,631,411 fully diluted).\n\nCo...