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| | April 26, 2010
CORAL GOLD CLOSES PRIVATE PLACEMENT -- FINAL CLOSING
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| | Coral Gold Resources Ltd. (the "Company") has closed the second tranche of a non-brokered private placement with aggregate gross proceeds of $965,250 from the sale of 1,755,000 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 23, 2012. The common shares issued, and any common shares issued pursuant to the exercise of Warrant prior to August 24, 2010 will be restricted from trading until August 24, 2010.
The Company paid total finders' fees of $28,325 in cash and 19,000 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 23, 2011 at a price of $0.75.
The total gross proceeds raised, including the first closing, amounted to $3,849,999.90 and a total of 7,000,120 units have been issued.
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: Thu May 6, 2010, CORAL SET TO COMMENCE DRILLING IN NEVADA
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