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Colibri Announces Increase in Equity Offering Due to Strong Investor Demand; Progress Toward Selection of Drilling Contractor for EP Gold Project
Dieppe, New Brunswick--(Newsfile Corp. - October 16, 2025) - Colibri Resource Corporation  ...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Announces Increase in Equity Offering Due to Strong Investor Demand; Progress Toward Selection of Drilling Contractor for EP Gold ProjectDieppe, New Brunswick--(Newsfile Corp. - October 16, 2025) - Colibri Resource Corporation (TSXV: CBI) (\"Colibri\" or the \"Company\") is pleased to provide an update regarding the status of its previously announced non-brokered private placements of equity units and convertible debenture units as described in the Company's news release dated October 6, 2025.Since the announcement, the Company has received strong investor demand in the equity units from both new subscribers and former debenture holders. As a result, the Company is increasing the size of the offering of the equity units from 8,666,666 units to 11,500,000 units at a price of $0.15 per unit, each unit being comprised of one share and one common share purchase warrant, each share purchase warrant entitling a holder to acquire one common share at a price of $0.25 per share for a period of 24 months.The Company also reports that it has narrowed its selection to two drilling contractors for the upcoming program at its EP Gold Project and expects to finalize an agreement this week. The EP Gold Project is fully permitted and considered drill-ready, with the program designed to expand upon known mineralized zones and test additional high-priority targets identified from field and geophysical work. Based on closing of the equity unit offering, the upcoming drill program is expected to be fully financed.The Company is encouraged by the high level of engagement and confidence shown by both new and existing investors. Management anticipates closing the book to new subscriptions in the near term, with closing to follow promptly thereafter, subject to the acceptance of the TSX Venture Exchange.Ian McGavney, President & CEO, commented, \"We are very pleased with the response to this financing. The strong participation from both new investors and long-term supporters underscores growing confidence in Colibri's direction. These funds will position us to advance exploration at the EP Gold Project and Pilar while strengthening our balance sheet and maintaining momentum toward our next milestones.\"Certain insiders of the Company may acquire units in the Offering. Any participation by insiders will constitute a \"related party ...