Libero Copper Announces Share Consolidation
LIBERO COPPER ANNOUNCES SHARE
CONSOLIDATION
VANCOUVER, BC
,
Jan. 19, 2024
/CNW/ -
Libero Copper
& Gold Corporation
(TSXV: LBC)
(OTCQB: LBCMF) ("
Libero Copper
" or "the
Company
") announces that it intends to consolidate
the Company's common shares (the "
Common Shares
") on the basis of one (1) new post-
consolidation Common Share for every ten (10) pre-consolidation Common Shares (the
"
Consolidation
"). The Board of Directors of
Libero Copper
has approved the Consolidation. The
Company is pursuing the Consolidation to make the Company's securities more attractive to
investors.
The Company currently has 174,777,174 Common Shares issued and outstanding. Assuming no
other changes in the number of Common Shares outstanding, after giving effect to the Consolidation,
and prior to giving effect to the Offering described herein, the Company would have approximately
17,477,717 Common Shares outstanding.
Any fractional interest in Common Shares resulting from the Consolidation will be rounded down to
the nearest whole Common Share. Registered shareholders will receive a letter of transmittal from
the Company's transfer agent, with information on how to replace their old share certificates / DRS
statements with the new share certificates / DRS statements. Brokerage firms will handle the
replacement of share certificates and DRS statements on behalf of their shareholder's accounts.
The exercise price and number of Common Shares issuable upon the exercise of
Libero Copper's
outstanding stock options and warrants will be proportionately adjusted to reflect the Consolidation
in accordance with the terms of such securities.
Closing of the Consolidation is subject to customary closing conditions, including the prior approval of
the TSX Venture Exchange (the "
Exchange
").
Libero Copper
intends to close the Consolidation as
soon as practicable following receipt of the approval from the Exchange.
ATM
Further to the at-the-market offering of shares made pursuant to the Prospectus Supplement dated
March 22, 2023
, the Company issued 13,411,000 shares and raised gross proceeds of
$280,482
pursuant to this ATM Distribution from
October 1, 2023
to
December 31, 2023
. Independent Trading
Group (ITG) Inc. received fees of
$5,610
.
Board Resignation
Bill Bennett
has resigned as a director of
Libero Copper
for personal reasons. On behalf of the
Board of Directors we wish him all the best in the future. Mr. Bennet is extremely knowledgeable
and has a wealth of experience regarding government and indigenous relations in British
Colombia
and was critical to our projects located there.
About
Libero Copper
Libero Copper
is a mineral exploration company which is focussed on unlocking the value of the
Mocoa copper-molybdenum porphyry deposit located in Putumayo,
Colombia
. Mocoa is being
advanced by a highly disciplined and seasoned professional team with successful track records of
discovery, resource development, and permitting in
Colombia
.
Libero Copper
prioritizes building
strong relationships with the communities in which we operate and is dedicated to creating long-term
value for our shareholders through responsible exploration to fuel the green energy future.
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 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 19-JAN-24