DIEPPE, NB, May 17, 2017 /CNW/ - (CBI: TSX-V) Colibri
Resource Corporation ("Colibri" or the "Company") is pleased to
announce that it has received confirmation from the TSX Venture
Exchange (the "Exchange") that its common shares will resume
trading at the open on Thursday May 18,
2017. The Exchange states that it has received
satisfactory documentation in respect of the letter of intent dated
December 15, 2016 between the
Company, Canadian Gold Resources Ltd. (CGR) and Ontop Capital
Limited ("Ontop"), under which Colibri has agreed to acquire
all of the issued and outstanding shares of CGR from Ontop (the
"Transaction").
Completion of the Transaction is subject to a number of
conditions, including minority shareholder approval at
Colibri's Annual General and Special Meeting on June 15, 2017 and final Exchange
acceptance.
Further details of the Transaction and the matters requiring
shareholder approval will be provided in the management information
circular to be mailed to Shareholders connection meeting of the
Company's shareholders, which will be available on SEDAR on or
after May 18, 2017. Please also
see the news releases dated December 16,
2016 and April 3, 2017, which
are posted on Colibri's profile on SEDAR.
The acquisition of CGR by Colibri will give the Company a 100%
interest in the Pilar Gold Project in Mexico, which is an advanced exploration
project. CGR owns the Pilar and Sun Properties with no royalties or
encumbrances on the properties. The Pilar property has had
extensive exploration over the past ten years including
approximately 15,000 meters of diamond and reverse circulation
drilling.
About Colibri Resource Corporation:
Colibri is a
Canadian mineral exploration company listed on the TSX-V (CBI)
focused on acquiring and exploring properties in Mexico.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as the term is defined in the policies of the TSX Venture
Exchange) accepts responsibility for the adequacy or accuracy of
this release.
This news release may contain forward looking statements
concerning future operations of Colibri Resource Corp.(the
"Company"). All forward looking statements concerning the company's
future plans and operations, including management's assessment of
the Company's project expectations or beliefs may be subject to
certain assumptions, risks and uncertainties beyond the Company's
control. Investors are cautioned that any such statements are
not guarantees of future performance and that actual
performance, exploration and financial results may differ
materially from any estimates and projections.
SOURCE Colibri Resource Corporation