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Colibri Announces Closing of First Tranche of Its Over-subscribed Non-Brokered Offering and Engages CANMEX for Drilling at EP Gold Project
Dieppe, New Brunswick--(Newsfile Corp. - November 3, 2025) - Colibri Resource Corporation (T...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Announces Closing of First Tranche of Its Over-subscribed Non-Brokered Offering and Engages CANMEX for Drilling at EP Gold ProjectDieppe, New Brunswick--(Newsfile Corp. - November 3, 2025) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to announce that, further to its news release of October 28, 2025, it has closed, subject to final TSX Venture Exchange (the \"Exchange\") acceptance, a first tranche of its previously announced non-brokered private placement of units (the \"Offering\") for aggregate gross proceeds of $1,350,722.Colibri has issued 9,004,816 units (\"Units\") at a price of $0.15 per Unit. Each Unit consists of one (1) common share and one (1) common share purchase warrant (a \"Warrant\"). Each Warrant entitles the holder to acquire one additional common share of the Company at a price of $0.25 for a period of 24 months following issuance.The Common Shares and Warrants are subject to a statutory hold period expiring four months and one day after closing. In connection with the closing of this tranche, the Company has agreed to pay finder's fees totaling $71,504 and issue 476,693 Finder's Warrants, each exercisable to acquire one common share at $0.25 for 24 months, all subject to final Exchange acceptance.Mr. Ian McGavney, Director and CEO, purchased 269,000 Units for proceeds of $40,350. His participation constitutes a related party transaction under Multilateral Instrument 61-101 but is exempt under subsections 5.5(a) and 5.7(a) as the value does not exceed 25% of the Company's market capitalization.Net proceeds will be used to advance exploration at Colibri's flagship Mexican gold projects, including Pilar and EP, and for general working capital. The Company anticipates completing a second tranche of the Offering in the coming days.Colibri Retains CANMEX for Upcoming EP Gold ProgramThe Company is also pleased to announce that it has engaged CANMEX Perforaciones y Servicios SA de CV (\"CANMEX\") to conduct its next phase of drilling at the EP Gold Project, located in Sonora, Mexico. The upcoming program will focus primarily on the San Perfecto and Banco de Oro target areas-marking the first drilling by Colibri in these highly prospective zones.Drill targets have been defined through the integration of surface sampling, geological mapping, and geophysical su...