Colibri Settles $10,000 Debt

http://www.newsfilecorp.com/release/29568/Colibri-Settles-10000-Debt#.Wd4wC2jWzIU

Dieppe, New Brunswick–(Newsfile Corp. – October 10, 2017) – Colibri Resource Corporation (TSXV: CBI) (“Colibri” or the “Company’) announces that, subject to regulatory consent, it has agreed to issue 66,666 common shares at a deemed price of $0.15 per common share to settle an outstanding indebtedness of $10,000 due to Ed Stringer, a director of the Company, in connection with services rendered as an officer of the Company during the period January 2017 to June 2017.

Due to its size, the transaction is exempt from the formal valuation and minority approval requirements of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions.

The common shares issuable pursuant to this transaction will be subject to resale restrictions for a period of four months and one day from the closing date under applicable securities legislation.

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