Libero Announces Private Placement of up to $2 Million
LIBERO ANNOUNCES PRIVATE PLACEMENT
OF UP TO $2 MILLION
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR FOR DISTRIBUTION TO U.S. WIRE
SERVICES/
VANCOUVER, BC
,
July 17, 2023
/CNW/ -
Libero Copper
& Gold Corporation
(TSXV: LBC)
(OTCQB: LBCMF) (DE: 29H) is pleased to announce a non-brokered private placement (the
"
Offering
") for the sale of up to 40,000,000 units (the "
Units
") at a price of
C$0.05
per Unit for
gross proceeds of up to
C$2,000,000
. Each Unit will be comprised of one common share (each, a
"
Unit Share
") and one common share purchase warrant (each, a "
Warrant
"). Each Warrant will
entitle the holder thereof to purchase one common share (each, a "
Warrant Share
") at a price of
C$0.075
for a period of 36 months following the closing date of the Offering.
It is anticipated that the directors of
Libero Copper
will subscribe for Units in the Offering. The
subscription of Units to insiders pursuant to the Offering is considered a related party transaction for
purposes of Multilateral Instrument 61-101 –
Protection of Minority Shareholders in Special
Transactions
("
MI 61-101
"). Libero intends to rely on exemptions from the formal valuation and
minority shareholder approval requirements provided under sections 5.5(a) and 5.7(a) of MI 61-101
in respect of such insider participation, based on the determination that fair market value of the
participation in the Offering by insiders will not exceed 25% of the market capitalization of
Libero
Copper
, as determined in accordance with MI 61-101.
The net proceeds from the sale of Units will be used for exploration of
Libero Copper's
projects,
including the Esperanza project in San Juan,
Argentina
and the Mocoa deposit in Putumayo,
Colombia
, and for working capital and general corporate purposes. Finder's fees of up to 6% cash
and broker warrants will be payable on certain portions of the Offering in accordance with the
policies of the TSX Venture Exchange.
The closing of the Offering is expected to occur on or about
July 28, 2023
and is subject to receipt
of all necessary regulatory approvals including the TSX Venture Exchange. The Unit Shares, Warrant
Shares and any common shares that are issuable from any finder's warrants will be subject to a hold
period of four months and one day in accordance with applicable securities laws.
None of the securities sold in connection with the Offering will be registered under the United States
Securities Act of 1933, as amended, and no such securities may be offered or sold in
the United
States
absent registration or an applicable exemption from the registration requirements. This news
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
Libero Copper
Libero Copper
is unlocking the value of a collection of porphyry copper deposits throughout the
Americas in prolific and stable jurisdictions. The portfolio includes the Mocoa deposit in Putumayo,
Colombia
; Esperanza in San Juan,
Argentina
; and Big Red and Big Bulk in the Golden Triangle, BC,
Canada
. 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 Libero Copper 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. The forward-looking information contained
herein is expressly qualified in its entirety by this cautionary statement. Forward-looking
information reflects management's current beliefs and is based on information currently available
to
Libero Copper
. The forward-looking information is stated as of the date of this news release and
Libero Copper
assumes no obligation to update or revise such information to reflect new events or
circumstances, except as may be required by applicable law.
SOURCE
Libero Copper
& Gold Corporation.
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For further information:
Ian Harris, Chief Executive Officer, +1 604 294 9039,
[email protected]; Michelle Borromeo, Vice President Investor Relations, +1 604 715 6845,
CO: Libero Copper & Gold Corporation.
CNW 07:00e 17-JUL-23