DIEPPE, NB, Aug. 3, 2018 /CNW/ - (CBI: TSX-V) - Colibri Resource Corporation ("Colibri" or the "Company") is pleased to announce that it negotiated an agreement with two shareholders to provide debt financing in an amount up to CAD $400,000.
The debt financing which will be in the form of non-interest bearing loans with no fixed terms of repayment, will be secured by the shares of the Company's wholly owned subsidiaries and three mineral exploration properties located in Sonora, Mexico. The Company will issue a general security agreement to the lending shareholders. The financing transaction is a related party transaction and is subject to regulatory approval.
Funds will be used for further work on the Company's Pilar project and for general corporate purposes.
"This funding is a viable alternative to raising equity in the current capital markets and will enable Colibri to continue our goal of expanding and further confirming our resources: stated Ronald J. Goguen, President of Colibri.
For more information about all of our projects please visit: www.colibriresource.com.
We seek safe harbour.
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 J. Goguen, President, Chairperson and Director, Tel:(506) 383-4274, firstname.lastname@example.org