Colt Resources Inc. (DB:P01) announced a non-brokered private placement 17,777,778 common shares at CAD 0.45 per share for gross proceeds of CAD 8,000,000 on January 7, 2013. The transaction will see participation from Asian and Portuguese based investors as well as a number of the company's directors. The transaction will complete in two tranches. The securities issued in the transaction will be subject to a four-month hold period. The company will pay a finders' fee of up to 6% cash and 6% non-transferable compensation warrants. Each compensation warrant entitles the holder to purchase one additional common share at CAD 0.55 per share up to and including January 7, 2014.

On the same day, the company closed the first tranche of the transaction. The company issued 6,000,000 common shares for gross proceeds of CAD 2,700,000 in first tranche. The company expects to complete final closing on or about January 11, 2013.

On January 28, 2013, the TSX Venture Exchange accepted for filing documents with respect to the first tranche of the transaction. There was a single placee in the first tranche. The company paid CAD 162,001 in cash as finder's fee to Rosis-Investimentos, LDA and also issued non-transferable broker warrants to purchase an aggregate of 360,000 common shares at CAD 0.45 per share on or before January 7, 2014.