Vancouver, British Columbia--(Newsfile Corp. – April 29, 2015). Theo van der Linde, President of Coronet Metals Inc. (“Coronet” or the “Company”) announces:
Sale of Coronet Metals US Inc. (“Coronet USA”):
Further to its new release dated March 3, 2015 the Company has closed the sale of its 100% owned subsidiary, Coronet Metals US Inc., to Pashleth Investment Ltd. The Company recorded a write down of CAD$2.2million in the quarter ending December 31, 2014 in respect of Coronet USA.
The closing of this disposition releases the Company from ongoing lease obligations and strengthens its balance sheet by reducing the continued and contingent financial obligations of the Liberty Mill; all of which better positions the Company to attract fresh investment capital and to continue as a going concern.
About Coronet Metals Inc.:
Coronet Metals Inc. Management is currently focusing the Company on advancement of its White Caps Gold Project near Manhattan, Nevada.
Theo van der Linde, President
FOR FURTHER INFORMATION AND ENQUIRIES CONTACT:
Theo van der Linde, President and CFO Tel: +1 778 834-6272
Email: firstname.lastname@example.org Web: www.coronetmetals.com