Colibri Announces that its Previously Announced Private Placement is Oversuscribed

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DIEPPE, N.B., Oct 26, 2016. (CBI: TSX-V) Colibri Resource Corporation (Colibri) is pleased to announce that its non-brokered private placement of up to 2,000,000 units of the Company at a price of $0.15 per unit for gross proceeds of up to $300,000 (the Financing) is oversubscribed. Colibri will now issue 2,667,166 units for total gross proceeds of $400,074.90 Each unit will consist of one common share and a whole non-transferable warrant. Each warrant will entitle the holder to purchase one additional common share of the Company at a price of $0.25 for a period of 24 months from the closing date. The Company may pay a commission or finder’s fee in connection with the private placement, subject to the approval of the TSX Venture Exchange and in compliance with applicable securities laws.

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