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| | April 05, 2010
CORAL GOLD CLOSES PRIVATE PLACEMENT - 1st CLOSING
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| | Coral Gold Resources Ltd. (the "Company") has closed the first tranche of a non-brokered private placement with aggregate gross proceeds of $2,884,815.90 from the sale of 5,245,120 units (the "Units") at a price of $0.55 per unit. Each Unit is comprised of one common share and one non-transferrable share purchase warrant (a "Warrant"). Each Warrant entitles the holder to purchase one additional common share at a price of $0.75 with a term of two (2) years until April 1, 2012. The common shares issued, and any common shares issued pursuant to the exercise of Warrant prior to August 2, 2010 will be restricted from trading until August 2, 2010.
The Company paid total finders' fees of $245,161 in cash and 425,747 in warrants to individuals and brokers assisting in the financing.
The finder's warrants will entitle the finders to purchase one additional common share with a term of one (1) year until April 1, 2011 at a price of $0.75.
The net proceeds of this Offering will be used to advance the Company's Robertson gold project at Crescent Valley, Nevada towards the work program announced on February 2, 2010 and general working capital requirements.
For more information on the Robertson Property and Coral Gold's other Nevada projects, visit the company's website at www.coralgold.com
ON BEHALF OF THE BOARD
"David Wolfin"
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David Wolfin
President |
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| | You can view the Next News Releases item: Mon Apr 26, 2010, CORAL GOLD CLOSES PRIVATE PLACEMENT -- FINAL CLOSING
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