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 $1,200,000through 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 $0.25per 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.