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Colibri Announces Non-Brokered Private Placement
Dieppe, New Brunswick--(Newsfile Corp. - August 23, 2024) - Colibri Resource Corporation (TSXV: C...
About this update from Colibri Resource Corporation
[{"type":"text","content":"Colibri Announces Non-Brokered Private PlacementDieppe, New Brunswick--(Newsfile Corp. - August 23, 2024) - Colibri Resource Corporation (TSXV: CBI)  (\"Colibri\" or the \"Company\") is pleased to announce that it intends to conduct a non-brokered private placement (the \"Offering\") of up to 9,000,000 units (the \"Units\") at a price of $0.05 for gross proceeds of up to $450,000, each Unit consisting of one (1) common share (a \"Common Share\") and one (1) common share purchase warrant (the Warrants). Each Warrant will entitle the holder to acquire one additional Common Share of the Corporation at a price of C$0.075 for a period of 24 months following the closing of the Offering.The net proceeds of the Offering will be used for upcoming exploration expenses at its highly prospective precious metals projects in Mexico, including the Pilar Gold Project & the EP Gold Project and for working capital.The Offering is anticipated to close towards mid-September 2024 (the \"Closing\"). Closing may occur in one or more tranches. Closing of the Offering remains subject to the acceptance of the TSX Venture Exchange. Common Shares issuable will be subject to a statutory hold period expiring on the date that is four months and one day after Closing. The Company may pay finders fees to qualified finders as per the guidelines of the TSX Venture Exchange.The Offering will be conducted by the Company utilizing the \"accredited investor\" exemption of National Instrument 45-106 -- Prospectus and Registration Exemptions and other applicable exemptions available to the Company.Interested parties may request further details by contacting: Ian McGavney, President & CEO at (506) 383-4274 or [email protected] 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, however, expects that 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, will exceed 25% of the Company's market ...