DIEPPE, NB, Aug. 29, 2017 /CNW/ - (CBI: TSX-V) – Colibri Resource Corporation ("Colibri" or the "Company"), announces a non-brokered private placement, pursuant to which the Company intends to raise gross proceeds of up to $1,200,000 through the issuance of up to 8,000,000 Units at a price of $0.15 per Unit. Each unit consists of one common share and one warrant. Each warrant entitles the holder to acquire one additional common share of the Company at a price of $0.25 per share for a period of 24 months following closing. Closing may take place in two or more tranches.
Proceeds from this financing will be used for the exploration on the Company's properties and general working capital.
The Company may pay finder's fees with respect to certain subscribers in this placement. All securities issued pursuant to this financing will be subject to resale restrictions for a period of four months and one day from closing under applicable securities legislation. Closing of the financing is subject to TSX Venture Exchange acceptance.
About Colibri Resource Corporation:
Colibri is a Canadian mineral exploration company listed on the TSX-V (CBI) focused on acquiring and exploring properties in Mexico.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release.
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.
The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
SOURCE Colibri Resource Corporation
For further information: Ronald Goguen, President, CEO and Director, Tel: (506) 383-4274, firstname.lastname@example.org