DIEPPE, NB, Nov. 7, 2016 /CNW/ - (CBI: TSX-V) Colibri
Resource Corporation (Colibri or the Company) is pleased to
announce that further to its press releases dated Oct. 25th and Oct. 26th, it has closed on
Nov. 3rd, a
non-brokered private placement of 2,667,166 units for gross
proceeds of $400,074.90. Each unit
consists of one common share and one whole non-transferable
warrant. Each warrant will entitle the holder to purchase one
additional common share of the Company at a price of $0.25 for a period of 24 months from the closing
date. The Company has paid a commission of 8% of the proceeds and
has issued 205,373 Brokers warrants exercisable at $0.25 for 24 months from closing.
The net proceeds of the Financing will be used for exploration
of the Company's properties, reviewing additional properties, and
general working capital purposes. Colibri is in the process of
planning a work program on its 506 hectare Evelyn Gold Property
located in northwest Sonora,
Mexico.
All securities issued in connection with this Financing are
subject to a four-month hold period from closing in accordance with
securities regulation.
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