Libero Announces Private Placement
Libero Announces Private Placement
VANCOUVER
,
May 1, 2020
/CNW/ -
Libero Copper
& Gold Corporation (TSX-V: LBC, OTCQB:
LBCMF)
announces a non-brokered private placement consisting of: (i) Units ("
Unit
") at a price of
C$0.10
per Unit (the "
NFT Unit Offering
"); (ii) Units at a price of
C$0.15
per Unit to residents of
British Columbia
(the "
Super FT Unit Offering
") and (iii) Units at a price of
C$0.11
per Unit (the "
FT
Unit Offering
" and together with the NFT Unit Offering and Super FT Unit Offering, the "
Offering
")
for gross aggregate proceeds of up to
$3 million
.
Each Unit consists of one Common Share ("
Common Share
") and one Common Share purchase
Warrant ("
Warrant
"). Each Warrant entitles the holder to acquire one Common Share for a period
of 24 months from closing at a price of
C$0.15
. If the closing price of the Common Shares is at a
price equal to or greater than
$0.20
for a period of 10 consecutive trading days, Libero will have the
right to accelerate the expiry date of the warrants by giving notice, via a new release, to the holders
of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said
news release.
Common Shares issued under the Super FT Unit Offering and FT Unit Offering qualify as 'flow
through shares' ("
Flow Through Shares
"). The gross proceeds from the Super FT Unit Offering
and FT unit 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 initial purchasers of the Flow Through Shares.
The net proceeds of the Offering will be used for drilling the Ridge high grade gold target at Big Red
and general working capital purposes. A Finder's Fee of 6% will be payable on a portion of the
Offering. Closing of the Offering is subject to approval of the TSX Venture Exchange.
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.
SOURCE
Libero Copper Corporation
View original content:
http://www.newswire.ca/en/releases/archive/May2020/01/c3253.html
%SEDAR: 00027216E
For further information:
Additional Information: Ian Slater, Chief Executive Officer, +1 604 638
2545, [email protected], liberocopper.com
CO: Libero Copper Corporation
CNW 05:00e 01-MAY-20