Libero Closes Private Placement
LIBERO CLOSES PRIVATE PLACEMENT
Vancouver, British Columbia, May 21, 2020 – Libero Copper & Gold Corporation (TSX-V: LBC,
OTCQB: LBCMF) is pleased to announce that the second tranche of the non-brokered private placement
upsized and announced on May 6, 2020 (the “Offering”) has closed and consists of: 10,630,000 FT Units
at a price of C$0.11 per Unit (the “FT Unit Offering”) for gross aggregate proceeds of C$1,619,300.
Additionally, 701,580 NFT Units were paid in connection to a 6% finder’s fee to Eventus Capital Corp.
Closing of the final tranche of the Offering announced on May 6, 2020 for total gross proceeds of C$4
million is expected on or about May 31, 2020 and is subject to approval of the TSX Venture Exchange.
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 at a price of C$0.15 until
May 13, 2022. 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 FT Unit Offering qualify as ‘flow through shares’ (“ Flow Through
Shares”). The gross proceeds from the 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. The Units issued in the Offering are subject to a statutory hold period
expiring on September 22, 2020.
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.
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Additional Information
Ian Slater
Chief Executive Officer
+1 604 638 2545
liberocopper.com
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 base d 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.