VANCOUVER, Sept. 23, 2015 /CNW/ - Colibri Resource Corporation ("Colibri" or the "Company") (TSX-V: CBI) is pleased to announce that further to receipt of the required shareholder and TSX Venture Exchange ("TSX-V") approval, the Company intends to implement its previously announced proposed share consolidation (the "Consolidation") of all of its issued and outstanding common shares ("Shares") on the basis of one (1) post-consolidation share for every fifteen (15) pre-consolidation Shares.
Accordingly, effective at market opening on September 24, 2015, the Company's Shares will commence trading on the TSX-V on a post-consolidated basis. Following completion of the Consolidation, the Company will have approximately [3,349,067] Shares issued and outstanding.
Letters of transmittal are being mailed to registered shareholders of Colibri requesting them to forward certificates representing their Shares to Computershare Trust Company in exchange for certificates representing the number of post-consolidation Shares of Colibri to which they are entitled in accordance with the instructions contained in the letters of transmittal. If a registered shareholder does not receive a letter of transmittal by October 10, 2015, please contact the Company at the contact information below.
Colibri Resource Corporation is a Canadian exploration company focused on the exploration and development of base and precious metal projects in Mexico.
Caution Regarding Forward-Looking Information
This News Release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward-looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. In particular, this News Release makes reference to the proposed Consolidation and the effect thereof on the Company's flexibility to seek additional financing opportunities and to pursue strategic transactions. Readers are cautioned that there is no assurance that the Consolidation referenced herein will proceed. Certain conditions must be met before the Consolidation is effected. Such conditions include the receipt of all necessary Shareholder and regulatory approvals, including the approval of the TSX Venture Exchange. There is no assurance that the required Shareholder and regulatory approvals will be received. If such approvals are not obtained, this could have an adverse effect on the Company. Many factors could cause the performance or achievement by Colibri to be materially different from any future results, performance or achievements that may be expressed or implied by such forward-looking statements. These factors include the failure to obtain the required approvals. Readers are cautioned that the foregoing list of factors is not exhaustive. The forward-looking statements contained in this New Release are expressly qualified by this cautionary statement. Except as required by law, the Company assume no obligation to update forward-looking statements should circumstances or management's estimates or opinions change.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Colibri Resource Corporation
For further information: Lance Geselbracht, P.E., President and Chief Executive Officer, Tel: (250) 755-7871 or [email protected]