VANCOUVER, Dec. 14, 2015 /CNW/ – Colibri Resource Corporation (“Colibri” or the “Company”) (TSX.V-CBI) is pleased to announce that it has closed its previously announced non-brokered private placement (the “Private Placement“) of 1,666,666 common shares of the Company (the “Shares“) at a price of $0.03 per Share for gross proceeds of $50,000.
The proceeds from the Private Placement will be used for general working capital, payment of service provider and regulator fees as well as costs relating to shareholder meetings and to maintain Colibri’s operations in Sonora, Mexico. No part of the proceeds will be used to pay management fees or to pay related parties of the Company.
The Shares are subject to a four month hold period expiring April 15, 2016. The Private Placement remains subject to final acceptance from the TSX Venture Exchange.