Libero Copper Closes $3,000,000 Financing
LIBERO COPPER CLOSES $3,000,000
FINANCING
/NOT FOR DISSEMINATION IN
THE UNITED STATES
OR FOR DISTRIBUTION TO U.S. WIRE
SERVICES/
VANCOUVER, BC
,
Feb. 15, 2024
/CNW/ -
Libero Copper
& Gold Corporation
(TSXV: LBC)
(OTCQB: LBCMF) ("
Libero Copper
") announces that, further to its press release dated
January 22,
2024
, it has closed a non-brokered private placement (the "
Offering
") for aggregate gross
proceeds of
$3,000,000
. The Offering was completed post-Consolidation (as defined herein).
Effective
February 13, 2024
,
Libero Copper
consolidated its 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 net proceeds of the Offering will be used
for exploration at Mocoa and general corporate purposes.
Libero Copper
issued 19,999,335 units (the "
Units
") at a price of
$0.15
per Unit, with each Unit
consisting of one post-Consolidation Common Share, and one full common share purchase warrant
(a "
Warrant
") with each Warrant entitling the holder to acquire an additional post-consolidation
Common Share at an exercise price of
$0.20
per Warrant until
February 15, 2027
. Common Shares
issued in the Offering as well as any Common Shares issuable from the exercise of Warrants which
were issued in the Offering, are subject to a four month hold period expiring
June 16, 2024
.
Early Warning Disclosure
The Company announces that Mr.
Frank Giustra
, through Fiore Aviation Corporation (a company
owned and controlled by Mr. Giustra) acquired 4,200,000 Units of the Company pursuant to the
private placement. As a result of the acquisition of securities described above,
Frank Giustra
now
owns and/or controls directly and indirectly 4,200,000 Common Shares and 3,700,000 Warrants,
representing 11.21% of the issued and outstanding Common Shares of the Company and 19.19%
on a partially diluted basis. Prior to this transaction, Mr. Giustra did not hold any securities of the
Company.
Frank Giustra
and his related entities acquired these securities for investment purposes and as
disclosed in the early warning report accompanying this news release, may in the future acquire or
dispose of securities of the Company, through the market, privately or otherwise, as circumstances
or market conditions warrant.
This news release is being issued under the early warning provisions of Canadian securities
legislation. A copy of the early warning report to be filed by Mr. Giustra in connection with the
transaction described above will be available under the Company's profile on SEDAR+ at (
www.sedarplus.ca
).
Change to Board of Directors
Ian Slater
,
Michael Sununu
,
Rob Pease
and
Brad Rourke
have resigned from the Board of
Libero
Copper
effective
February 15, 2024
and are replaced by
Rob Van Egmond
. The Board now consists
of
Rob Van Egmond
,
Ian Harris
,
Ernest Mast
, and
Jay Sujir
.
Bonus Warrants
Further to the Company's news release dated
February 9, 2024
, the Company issued on
February
15, 2024
the 750,000 non-transferable warrants (the "
Bonus Warrants
") expiring
February 15,
2025
with an exercise price of
$0.20
per Common Share to Slater Capital Corporation (the
"
Lender
") on a post-Consolidation basis in connection with a loan agreement between the Company
and the Lender dated
January 1, 2024
. Any Common Shares issuable from the exercise of Bonus
Warrants are subject to a four month hold period expiring
June 16, 2024
.
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, obtaining the receipt of final TSX Venture Exchange approval, 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 17:00e 15-FEB-24