Coltstar completes qualifying transaction and private placement

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[{"type":"text","content":"\n\n\n\nTSX Venture Exchange\nCanadian Trading Symbol: CTR.P\n\n\nCOQUITLAM, BC, April 30 /CNW/ - Coltstar Ventures Inc. ("Coltstar") is\npleased to announce that it has on April 29, 2009 completed its acquisition of\n100% of the issued and outstanding quota of Tuscany Minerals s.r.l. (the\n"Transaction") from Bayswater Uranium Corporation ("Bayswater") (as previously\nannounced on January 30, 2009), and which constitutes Coltstar's "Qualifying\nTransaction" as such term is defined in TSX-V Policy 2.4. As a result of the\ncompletion of this transaction, Coltstar will now be listed as a Tier 2 Mining\nIssuer. For more information on the Transaction please refer to the Filing\nStatement filed on Sedar on April 3, 2009.\n\n\nConcurrently with the closing of the Transaction, Coltstar has completed\na private placement raising $700,000 through the sale of its common shares at\na price of $0.25 per common share (the "Private Placement"). PI Financial\nCorp. (the "Agent") acted as agent for the Private Placement. As compensation\nfor its services the Agent received 224,000 warrants (the "Warrants") to\npurchase common shares of Coltstar, each warrant exercisable at a price of\n$0.25 per common share until April 29, 2011. The Agent also received a\ncorporate finance fee and a cash commission equal to 8% of the gross proceeds\nof the Private Placement.\n\n\nThe 1,000,000 common shares issued to Bayswater pursuant to the\nTransaction, the 2,800,000 common shares issued pursuant to the Private\nPlacement and shares issued to the Agent pursuant to its exercise of the\nWarrants are subject to a hold period expiring on August 30, 2009.\n\n\nIt is anticipated that trading in the Company's shares will resume on the\nTSX-V on May 4, 2009.\n\n\nOn behalf of the Board of Directors\n\n"Bruno Gasbarro"\nPresident, Chief Executive Officer and Director\n\n The TSX Venture Exchange has not reviewed and does not accept\n responsibility for the adequacy or accuracy of this release.\n\n\n","length":2183,"tagName":"div"}]

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