Libero Closes Private Placement
Libero Closes Private Placement
VANCOUVER, BC
,
Sept. 30, 2020
/CNW/ -
Libero Copper
& Gold Corporation
(TSXV: LBC)
(OTCQB: LBCMF) (DE: 29H) is pleased to announce the non-brokered private placement
announced on
September 18, 2020
(the "
Offering
") has closed and consists of 12,487,450 common
shares ("
Share
") at a price of
C$0.16
per Share for gross aggregate proceeds of approximately
C$2,000,000
. Eventus Capital Corp. acted as a finder and was issued 622,500 Shares.
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.
The net proceeds of the Offering will be used for drilling Big Red. A 6% finder's fee was paid on a
portion of the Offering. The Shares issued in the Offering are subject to a statutory hold period
expiring on
January 31
, 2021.
About the Big Red Property
Big Red is a 26,000-hectare district with both gold and copper targets being drilled for the first time.
Big Red is located 45 kilometres southwest of
Telegraph Creek
along the Barrington Road, 70
kilometres north of Galore Creek and 100 kilometres west of
Red Chris
in the Golden Triangle, of
northwestern
British Columbia
, Canada. The project has both road access and an airstrip.
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 and
copper 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
& Gold Corporation.
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For further information:
Ian Slater, Chief Executive Officer, 1 604 638 2545,
[email protected], liberocopper.com
CO: Libero Copper & Gold Corporation.
CNW 18:58e 30-SEP-20