Libero Announces Private Placement
Libero Announces Private Placement
VANCOUVER, BC, Sept. 19, 2020 /CNW/ - Libero Copper & Gold
Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to
announce a non-brokered private placement consisting of up to
12,500,000 common shares ("Share") at a price of C$0.16 per Share
("Offering") for gross aggregate proceeds of up to $2 million.
Shares issued under the Offering qualify as 'flow through shares'
("Flow Through Shares"). The gross proceeds from the Offering will
be used to incur 'Canadian exploration expenses' that will qualify as
'flow through mining expenditures' as those terms are defined in the
Income Tax Act which will be renounced to the purchasers of the Flow
Through Shares.
"We have completed the first drill program at Ridge and drilling is in
progress at ME18," comments Ian Slater, Chief Executive
Officer. "This fully subscribed financing will allow us to add additional
targets and extend the Big Red drill program through the end of the
season."
The net proceeds of the Offering will be used for drilling Big
Red. Eventus Capital Corp. is acting as a finder in connection with the
Offering. A Finder's Fee of 6% will be payable in Shares on a portion
of the Offering. Closing of the Offering is expected on September 28,
2020 and is subject to approval of the TSX Venture Exchange.
About the Big Red Property
Big Red is a new gold discovery located 70 kilometres north of Galore
Creek and 100 kilometres west of Red Chris in the Golden Triangle, of
northwestern British Columbia, Canada. Big Red comprises 20
contiguous claims, totaling 26,000 hectares, 45 kilometres southwest
of Telegraph Creek along the Barrington Road.
The Golden Triangle is a geological province of prodigious gold and
copper mineralisation and host to some of Canada's most famous
mines, including Premier, Red Chris, Snip, Brucejack and Eskay
Creek. Porphyry copper and gold, epithermal gold and silver and
volcanogenic massive sulfide styles of mineralisation have all been
recognised within the Golden Triangle. At Big Red porphyry gold-
copper targets are peripheral to a distinct large magnetic-high feature
and coincide with a radiometric potassium anomaly, copper, gold,
silver and molybdenum geochemical anomalies and a mapped
Jurassic aged porphyry intrusion. Please see Libero's flickr site for
photographs.
About Libero Copper & Gold
Libero holds a collection of porphyry deposits throughout the Americas
in prolific but stable jurisdictions. The portfolio includes both
exploration properties such as Big Red, a new gold discovery in the
Golden Triangle, Canada, and high-quality deposits with significant
resources but without any fatal flaws or significant holding costs. The
Tomichi copper deposit in the United States and the Mocoa copper
deposit in Colombia, both contain large inferred mineral resources. In
total, the Mocoa and Tomichi properties contain 7.9 billion pounds of
copper and 1.1 billion pounds of molybdenum. These assets are
being advanced by a highly disciplined and seasoned professional
team with successful track records of discovery, resource
development, and permitting in the Americas.
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. This news release includes forward-looking statements that
are subject to risks and uncertainties. All statements within, other
than statements of historical fact, are to be considered forward
looking. Although the Company believes the expectations expressed
in such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ materially
from those in forward-looking statements. Factors that could cause
actual results to differ materially from those in forward-looking
statements include market prices, exploitation and exploration
successes, continued availability of capital and financing, and general
economic, market or business conditions and regulatory and
administrative approvals, processes and filing requirements. There
can be no assurances that such statements will prove accurate and,
therefore, readers are advised to rely on their own evaluation of such
uncertainties. We do not assume any obligation to update any
forward-looking statements.
liberocopper.com
SOURCE Libero Copper & Gold Corporation.
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%SEDAR: 00027216E
For further information: Ian Slater, Chief Executive Officer, +1 604
638 2545, [email protected]
CO: Libero Copper & Gold Corporation.
CNW 21:14e 19-SEP-20