Colorado raises $950k

Colorado Resources Ltd. Dec. 29 reported the closing of a C$950,000 financing that involved the issuance of 3.8 million flow-through units at C25 cents each.

Each unit consists of one flow-through common share and a warrant that entitles the holder to purchase one non-flow-through Colorado share for C40 cents until Dec. 29, 2017.

Under Canada's Income Tax Act, a flow-through financing allows miner...