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Colibri Announces Extension of Non-Brokered Private Placement Closing Date
Dieppe, New Brunswick--(Newsfile Corp. - March 12, 2025) - Colibri Resource Corporation (TSXV: CB...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Announces Extension of Non-Brokered Private Placement Closing DateDieppe, New Brunswick--(Newsfile Corp. - March 12, 2025) - Colibri Resource Corporation (TSXV: CBI) (Colibri or the Company) is pleased to announce that, in response to increased investor interest, it has sought and obtained consent from the TSX Venture Exchange to extend the closing date for a second tranche of a current offering of units (the \"Offering\") originally announced on January 17, 2025. Closing of a second tranche will now occur on or before March 28, 2025. The extended closing time was sought to accommodate a number of very recent expressions of interest.The Offering is for the sale of up to 10,000,000 units (the \"Units\") at a price of $0.025 per Unit, for total gross proceeds of up to $250,000. Each Unit is comprised of one (1) common share (a \"Common Share\") and one (1) common share purchase warrant (\"Warrants\") of the Company. Each Warrant entitles the holder to acquire one additional Common Share of the Company at a price of C$0.05 for a period of 24 months following issuance. A first tranche, announced on February 13, 2025, was closed for gross proceeds of $140,400. All terms of the Offering other than the extension of the closing date as described herein remain unchanged.Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders in the Private Placement will constitute a \"related party transaction\" as defined under Multilateral Instrument 61- 101 Protection of Minority Security Holders in Special Transactions (\"MI 61-101\"). The Company expects such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, is expected to exceed 25% of the Company's market capitalization.The securities issued pursuant to the Offering will be subject to a statutory four month and one day hold period. Final closing of the Offering is subject to acceptance of the TSX Venture Exchange.This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release in the United States. The securities offered have not been and will not be registered under the United S...