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Message: Closes Final Tranche of $4.5 Million Private Placement
| February 6, 2009 |
| Coro Closes Final Tranche of $4.5 Million Private Placement |
| VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 6, 2009) - Coro Mining Corp. ("Coro" or the "Company") (TSX:COP) is pleased to announce the closing of the final tranche of the previously announced non-brokered private placement of 13,635,909 units of the Company at a price of $0.11 per unit. Each unit is comprised of one common share and one transferable common share purchase warrant, with each warrant exercisable to acquire one common share until February 5, 2011, subject to earlier forced exercise, at an exercise price of $0.18 until February 5, 2010 and an exercise price of $0.20 thereafter. Combined with the Benton Resources Corp. private placement which closed on January 23, 2009, the Company closed a total of 40,908,636 units for gross proceeds of $4,499,950. The Company also announces that Geoff Chater has resigned as Vice President, Business Development of the Company, effective February 1st, 2009, but will be available to the Company on a consulting basis as required. Alan Stephens, President and CEO of Coro commented: "We would like to thank Geoff for the efforts he has made on behalf of Coro and are pleased that he will be available to provide us with advice on a consulting basis going forward. We wish him well in his future endeavours." CORO MINING CORP. Alan Stephens, President and CEO About Coro Mining Corp.: The Company was founded with the goal of building a mining company focused on medium-sized base and precious metals deposits in Latin America. The Company intends to achieve this through the exploration for, and acquisition of, projects that can be developed and placed into production and it has established an experienced development and exploration team to accomplish this. Coro's core project property is the advanced San Jorge copper-gold project, in Argentina, as well as and the Company holds other earlier stage exploration properties located in Chile. |
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