Colibri Announces Debt Conversion
Colibri Announces Debt Conversion
Dieppe, New Brunswick--(Newsfile Corp. - January 29, 2026) - Colibri Resource Corporation (TSXV:
CBI) ("Colibri" or the "Company") is pleased to announce that, further to its news release of October 17,
2025, it has completed the conversion of $600,995 of debt to units of the Company (the "Debt
Conversion"). Of the amount converted, $505,995 represents the principal amount and interest accrued
of certain debentures which had matured in August 2025. The remaining $95,000 represents amounts
owed to two arm's length trade creditors who have agreed to accept units in lieu of payment on accounts.
Under the Debt Conversion, Colibri has issued 3,848,300 units ("Units") in aggregate and as follows:
i
.
3,373,300 Units were issued to the debenture holders at a deemed price of $0.15 per Unit; each
Unit being comprised of one (1) common share (a "Common Share") and one (1) common share
purchase warrant ("Warrants") of the Company. Each Warrant entitles the holder to acquire one
additional Common Share of the Company at a price of C$0.25 for a period of 24 months
following issuance; and
ii
.
475,000 Units were issued to trade creditors at a deemed price of $0.20 per Unit; each Unit being
comprised of one (1) common share (a "Common Share") and one (1) common share purchase
warrant ("Warrants") of the Company. Each Warrant entitles the holder to acquire one additional
Common Share of the Company at a price of C$0.30 for a period of 24 months following issuance.
All parties receiving the Units are arm's length to the Company. No finder's fees or commissions have
been paid in relation to the Debt Conversion.
The Common Shares and Warrants issued for the Debt Conversion are subject to a statutory hold period
expiring on the date that is four months and one day after closing. Completion of the Debt Conversion
remains subject to final acceptance of the TSX Venture Exchange.
"This is debt conversion represents an important milestone for the Company as it will remove a
significant portion of current debt on the Company's balance sheet and move it into equity," said Ian
McGavney, CEO. "As a result, we have significantly enhanced our ability to raise additional capital for
our exploration projects."
ANY SECURITIES REFERRED TO HEREIN WILL NOT BE REGISTERED UNDER THE US.
SECURITIES ACT OF 1933 (THE "1933 ACT") AND MAY NOT BE OFFERED OR SOLD IN THE
UNITED STATES OR TO A U.S. PERSON IN THE ABSENCE OF SUCH REGISTRATION OR AN
EXEMPTION FROM THE REGISTRATION REQUIREMENTS OF THE 1933 ACT.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there
be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
ABOUT COLIBRI RESOURCE CORPORATION:
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on
acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds
four high potential precious metal projects: 1) 100% of EP Gold Project in the significant Caborca Gold
Belt which has delivered highly encouraging exploration results and is surrounded by Mexico's second
largest major producer of gold on four sides, 2) 49% Ownership of the Pilar Gold & Silver Project which
is believed to hold the potential to be a near term producing mine, and 3) two highly prospective interests
in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project).
For more information about all Company projects please visit:
www.colibriresource.com
.
For further information contact: Ian McGavney, President, CEO and Director, Tel: (506) 383-4274,
.
Neither 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.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements". Statements in this press release which are not
purely historical are forward-looking statements and include any statements regarding beliefs, plans,
expectations or intentions regarding the future. Actual results could differ from those projected in any
forward-looking statements due to numerous factors. These forward-looking statements are made as of
the date of this news release, and the Company assumes no obligation to update the forward-looking
statements, or to update the reasons why actual results could differ from those projected in the forward-
looking statements. Although the Company believes that the plans, expectations and intentions
contained in this press release are reasonable, there can be no assurance that they will prove to be
accurate.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/282088