Trading Symbols:
GTP - (TSX-V)
P01 - (FRANKFURT)
COLTF - (OTCQX)
MONTREAL,
Dec. 3, 2012 /PRNewswire/ - Colt
Resources Inc. ("Colt" or the "Company") announces that the board
of directors has appointed Ernst & Young LLP (the "Successor
Auditor") as auditor for the Company. At the request of the
Company, Schwartz Levitsky Feldman LLP (the "Former Auditor") have
resigned as auditor of the Company effective November 23, 2012.
The decision to change auditors is the result of
the Company's increase in its exploration and evaluation activities
in Portugal. Ernst & Young LLP
expertise in mining and its international infrastructure were the
main criteria for the appointment.
There were no reservations in the Former
Auditor's reports for the two most recently-completed fiscal years
or for any period subsequent to the most recently-completed period
for which an audit report was issued and preceding the date of the
Former Auditor's resignation. There are no reportable events
between the Company and the Former Auditor. The resignation of the
Former Auditor as auditor of the Company has been approved by the
Company's audit committee and its board of directors. The Notice of
Change of Auditor, together with the letter from the Former Auditor
and the letter from the Successor Auditor, has been reviewed by the
Company's audit committee and its board of directors.
ON BEHALF OF THE BOARD OF DIRECTORS OF COLT
RESOURCES INC.
Nikolas Perrault,
CFA, President & CEO
About Colt Resources Inc.
Colt Resources Inc. is a Canadian exploration
and development company engaged in acquiring, exploring, and
developing mineral properties with an emphasis on gold and
tungsten. It is currently focused on advanced stage
exploration projects in Portugal,
where it is one of the largest lease holders of mineral
concessions.
The Company's shares trade on the TSX‐V, symbol:
GTP; the Frankfurt Stock Exchange,
symbol: P01; and, the OTCQX, symbol: COLTF.
FORWARD-LOOKING STATEMENTS: Certain of the
information contained in this news release may contain
"forward-looking information". Forward-looking information and
statements may include, among others, statements regarding the
future plans, costs, objectives or performance of Colt Resources
Inc. (the "Company"), or the assumptions underlying any of the
foregoing. In this news release, words such as "may", "would",
"could", "will", "likely", "believe", "expect", "anticipate",
"intend", "plan", "estimate" and similar words and the negative
form thereof are used to identify forward-looking statements.
Forward-looking statements should not be read as guarantees of
future performance or results, and will not necessarily be accurate
indications of whether, or the times at or by which, such future
performance will be achieved. Forward-looking statements and
information are based on information available at the time and/or
management's good-faith belief with respect to future events and
are subject to known or unknown risks, uncertainties, assumptions
and other unpredictable factors, many of which are beyond the
Company's control. These risks, uncertainties and assumptions
include, but are not limited to, those described under "Risk
Factors" in the Company's revised annual information form dated
April 20, 2011 available on SEDAR at
www.sedar.com and could cause actual events or results to differ
materially from those projected in any forward-looking statements.
The Company does not intend, nor does the Company undertake any
obligation, to update or revise any forward-looking information or
statements contained in this news release to reflect subsequent
information, events or circumstances or otherwise, except if
required by applicable laws.
Neither the TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.
SOURCE COLT RESOURCES INC.
