Libero Copper Announces Closing of Oversubscribed Private Placement for Proceeds of $3,700,000
Libero Copper Announces Closing of Oversubscribed Private Placement for
Proceeds of $3,700,000
VANCOUVER, British Columbia--(BUSINESS WIRE)--August 16, 2019--Libero Copper
Corporation (TSX-V: LBC, OTCQB: LBCMF) announces that the non-brokered private
placement of C$2,700,000 million announced on May 28, 2019 was oversubscribed and
increased to C$3,700,000 million.
The oversubscription amount consists of 10,000,000 Units (“Unit”) at a price of C$0.10 per Unit
for gross proceeds of C$1,000,000. Each Unit consists of one 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 June 7, 2021.
The net proceeds will be used for exploration at the Big Red project (including the 2019 drill
program scheduled to commence in the beginning of September) and general working capital
purposes. The private placement is subject to TSXV approval and the Units issued are subject to
a statutory hold period expiring on December 17, 2019.
About Libero Copper
Libero Copper is acquiring high-quality copper deposits with significant resources but without
any fatal flaws or significant holding costs and exceptional copper exploration properties in the
Americas. These assets are being advanced and de-risked by a seasoned team to minimize
dilution and maximize shareholder value. The portfolio currently includes the Big Red
exploration project in Canada, the Tomichi deposit in the United States and the Mocoa deposit in
Colombia which both contain large inferred mineral resources. In total the properties contain 7.9
billion pounds of copper and 1.1 billion pounds of molybdenum.
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.
Contacts
Ian Slater
Chief Executive Officer
+1 604 638 2545
liberocopper.com