VANCOUVER, March 24, 2016 /CNW/ - Colibri Resource
Corporation ("Colibri") is pleased to announce that it has
obtained an extension to close its non-brokered private placement
financing to raise gross proceeds of up to $80,000 (the "Financing"). Final
materials will then be due on or before April 25, 2016. No further extensions will be
possible.
The Financing will consist of up to 1,600,000 units of the
Company (each, a "Unit") at a price of $0.05per Unit. Each Unit will consist of one
common share and a whole non-transferable warrant (each, a
"Warrant"). Each Warrant will entitle the holder to purchase
one additional common share of the Company at a price of
$0.075 per share for a period of 12
months following the closing date and at a price of $0.085 per share for a period of 12 months after
the first 12 months.
The net proceeds from the Financing will be used for general
working capital purposes.
All securities issued in connection with this Financing will be
subject to a four-month hold period in accordance with securities
regulation.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of the contents
herein.
SOURCE Colibri Resource Corporation