VANCOUVER, June 1, 2016 /CNW/ - Colibri Resource Corporation ("Colibri") is pleased to announce that it intends to carry out a non-brokered private placement financing to raise gross proceeds of up to $100,000 (the "Financing").
The Financing will consist of up to 1,000,000 units of the Company (each, a "Unit") at a price of $0.10 per Unit. Each Unit will consist of one common share and one-half of one 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 $0.15 per share for a period of 24 months following the closing date.
The net proceeds from the Financing will be used for general working capital purposes.
The Financing is subject to TSX Venture approval. 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