VANCOUVER, March 24, 2016 /CNW/ - Colibri Resource Corporation ("Colibri") is pleased to announce that it has obtained an extension to close its non-brokered private placement financing to raise gross proceeds of up to $80,000 (the "Financing"). Final materials will then be due on or before April 25, 2016. No further extensions will be possible.
The Financing will consist of up to 1,600,000 units of the Company (each, a "Unit") at a price of $0.05per Unit. Each Unit will consist of one common share and a whole non-transferable warrant (each, a "Warrant"). Each Warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.075 per share for a period of 12 months following the closing date and at a price of $0.085 per share for a period of 12 months after the first 12 months.
The net proceeds from the Financing will be used for general working capital purposes.
All securities issued in connection with this Financing will be subject to a four-month hold period in accordance with securities regulation.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents herein.
SOURCE Colibri Resource Corporation
For further information: Edward Stringer, Director, President and Chief Executive Officer, Tel: (506) 383-4274