Colibri Announces New Non-Brokered Private Placement; TSXV Final Acceptance on Prior Placement and Disclosure Correction
Colibri Announces New Non-Brokered Private
Placement; TSXV Final Acceptance on Prior
Placement and Disclosure Correction
Dieppe, New Brunswick--(Newsfile Corp. - January 17, 2025) - Colibri Resource Corporation (TSXV:
CBI) ("Colibri" or the "Company") wishes to announce that it intends to conduct a non-brokered private
placement (the "Offering") of up to 10,000,000 units (the "Units") at a price of $0.025 for gross proceeds
of up to $250,000. Each Unit will consist of one (1) common share and one (1) common share purchase
warrant (the
Warrants
). Each Warrant will entitle the holder to acquire one common share (a "Common
Share") of the Company at a price of C$0.05 per Common Share for a period of 24 months following the
closing of the Offering.
The net proceeds of the Offering will be used for upcoming exploration expenses at Colibri's highly
prospective precious metals projects in Mexico, including the Pilar Gold Project & the EP Gold Project
and for working capital.
The Offering is anticipated to close towards the middle of February 2025 (the "Closing"). Closing may
occur in one or more tranches.
Closing of the Offering is subject to the acceptance of the TSX Venture Exchange (the "Exchange").
Common Shares issuable will be subject to a statutory hold period expiring on the date that is four
months and one day after Closing. The Company anticipates that it may pay certain finder's fees as per
the guidelines of the Exchange.
The Offering will be conducted by the Company primarily under the "accredited investor" exemption of
National Instrument 45-106 --
Prospectus and Registration Exemptions
but may use other exemptions if
appropriate.
For further details of the Offering, please contact Ian McGavney, President & CEO of the Company at
(506) 383-4274 or
.
Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders in the
Private Placement will constitute a "related party transaction" as defined under Multilateral Instrument 61-
101
Protection of Minority Security Holders in Special Transactions ("
MI 61-101
")
. The Company
expects such participation will be exempt from the formal valuation and minority shareholder approval
requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the
consideration for the Units paid by such insiders, is expected to exceed 25% of the Company's market
capitalization.
TSXV Final Acceptance and Disclosure Correction
Colibri also wishes to announce that, further to its news release of December 20, 2024, it has received
final acceptance from the Exchange in regards to a private placement originally announced on August
23, 2024. See also the Company's follow-up news releases dated September 6 and October 4, 2024. A
total of 6,110,000 units were sold for gross proceeds of $305,500. Each unit sold consisted of one
common share and one common share warrant exercisable at a price of $0.075 per share for a period
of 24 months from the date of issuance. The foregoing corrects the disclosure in the Company's
December 20, 2024 news release which incorrectly stated that a total of 550,000 units had been sold.
The securities of the Company have not been, and will not be, registered under the
U.S. Securities Act
of 1933
, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered
or sold in the United States absent registration or an available exemption from the registration
requirement of the U.S. Securities Act and applicable U.S. state securities laws. 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 these
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 surround 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
.
Contact
:
Ian McGavney, President, CEO and Director
Tel: (506) 383-4274
Forward-Looking Statements
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 news release.
No stock exchange, securities commission or other regulatory authority has approved or disapproved
the information contained herein. This news release includes certain "forward-looking statements".
These statements are based on information currently available to the Company and the Company
provides no assurance that actual results will meet management's expectations. Forward-looking
statements include estimates and statements that describe the Company's future plans, objectives or
goals, including words to the effect that the Company or management expects a stated condition or
result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates",
"expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are
based on assumptions and address future events and conditions, by their very nature they involve
inherent risks and uncertainties. Actual results relating to, among other things, results of exploration,
project development, reclamation and capital costs of the Company's mineral properties, and the
Company's financial condition and prospects, could differ materially from those currently anticipated in
such statements for many reasons such as: changes in general economic conditions and conditions in
the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental
and other judicial, regulatory, political and competitive developments; technological and operational
difficulties encountered in connection with the activities of the Company; and other matters discussed in
this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-
looking statements. These and other factors should be considered carefully, and readers should not
place undue reliance on the Company's forward-looking statements. The Company does not undertake
to update any forward-looking statement that may be made from time to time by the Company or on its
behalf, except in accordance with applicable securities laws.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/237581