MONCTON, NB, Aug. 9, 2017 /CNW/ - The Goguen Family Trust (the
"Acquiror") announced today that it has indirectly acquired,
through its wholly owned investment company, Blue Chip Investments
Inc. ("Blue Chip"), 3,905,914 common shares of Colibri Resource
Corporation (the "Issuer") at a deemed price of $0.165 per common share with an aggregate value
of $644,475.81. The acquired shares
represent 10.76% of the issued and outstanding common shares of the
Issuer. The Acquiror, through Blue Chip, held 17,000 common shares
of the Issuer prior to this acquisition. As a result of this
acquisition, the Acquiror now owns indirectly, 3,922,914 common
shares representing 10.81%. of the issued and outstanding common
shares of the Issuer.
The Acquiror is a private investment entity which is arm's
length to the Issuer and its insiders.
The Acquiror acquired the common shares of the Issuer as a
result of a return of capital dividend declared by ONTOP Capital
Limited ("ONTOP") to its shareholders. The Acquiror's investment
company, Blue Chip, is a shareholder of ONTOP.
ONTOP acquired the common shares of the Issuer as consideration
for the sale of its wholly owned subsidiary, Canadian Gold
Resources Ltd., to the Issuer pursuant to the terms of a share
exchange agreement dated March 10,
2017 (the "Agreement"). Pursuant to the Agreement, the
Issuer issued 24,242,425 common shares to ONTOP at a deemed value
of $0.165 per common share (the
"Consideration Shares") for a total purchase price of $4,000,000. Effective immediately after
closing of the Agreement, ONTOP distributed the Consideration
Shares to its shareholders (including Blue Chip) by way of a return
of capital dividend
The Acquiror may be contacted c/o 105 Englehart Street, Suite
700, Dieppe, New Brunswick E1A
8K2. The Acquiror acquired these common shares in the ordinary
course of its business and investment activities, and may, from
time to time, acquire additional securities of the Company or
dispose of such securities as it may deem appropriate.
SOURCE Colibri Resource Corporation