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 $1,200,000 through 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 $0.25 per 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.
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.
The TSX Venture Exchange has neither approved
nor disapproved the contents of this news release.
Neither TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
The statements made in this news release may
contain forward-looking statements that may involve a number of
risks and uncertainties. Actual events or results could
differ materially from the Company's expectations and
projections.
SOURCE Colibri Resource Corporation