On August 23, 2024, Colibri Resource Corporation, a Canadian mineral exploration company listed on the TSX-V (CBI), announced its plan to conduct a non-brokered private placement (the “Offering”) of up to 9,000,000 units (the “Units”) at a price of $0.05 per Unit, with the goal of raising up to $450,000 in gross proceeds. Each Unit will consist of one common share and one common share purchase warrant (the “Warrants”), with each Warrant entitling the holder to acquire an additional Common Share of the company at a price of C$0.075 within 24 months of the Offering’s closing.
The net proceeds from the Offering will be utilized for upcoming exploration expenses at the Company’s precious metals projects in Mexico, including the Pilar Gold Project and the EP Gold Project, as well as for general working capital purposes.
The anticipated closing date for the Offering is mid-September 2024, subject to approval from the TSX Venture Exchange. The Company may close the Offering in one or multiple tranches, and the Common Shares issued will be subject to a statutory hold period of four months and one day after the Closing. Finders fees may be paid to qualified finders in accordance with TSX Venture Exchange guidelines.
Interested parties can request additional information by contacting Ian McGavney, President & CEO at (506) 383-4274 or via email at ianmcgavney@colibriresource.com. It should be noted that certain insiders of the company may participate in the Offering, which will be considered a “related party transaction” as per applicable regulatory standards.
The securities offered in this Private Placement have not been registered under the U.S. Securities Act of 1933 or any U.S. state securities laws and cannot be sold or offered in the United States without proper registration or an exemption. The Company plans to use the accredited investor exemption and other applicable exemptions for the Offering.
Colibri Resource Corporation focuses on acquiring, exploring, and developing gold and silver properties in Mexico, holding interests in several high-potential projects. For more information about the Company’s projects, visit www.colibriresource.com.
This news release contains forward-looking statements, and readers should exercise caution as actual results may differ from management’s expectations due to various factors such as economic conditions, regulatory changes, and operational challenges. The Company does not commit to updating forward-looking statements unless required by law.
For more information, the original press release can be accessed at: https://www.newsfilecorp.com/release/220952
