VANCOUVER, Oct. 29, 2015 /CNW/ - Colibri Resource
Corporation ("Colibri" or the "Company") (TSX.V-CBI) is pleased
to announce that it intends to carry out, subject to approval from
the TSX Venture Exchange (the "TSX-V"), a non-brokered
private placement (the "Private Placement") of up to
1,666,667 common shares of the Company (the "Shares")
at a price of $0.03 per Share
for gross proceeds of up to $50,000.
The Company has obtained approval from TSX-V to waive the
$0.05 minimum pricing
requirement for the Private Placement.
The proceeds from the Private Placement will be used for general
working capital, payment of service provider and regulator fees as
well as costs relating to shareholder meetings and to maintain
Colibri's operations in Sonora,
Mexico. No part of the proceeds will be used to pay
management fees or to pay related parties of the Company.
All of the securities issued pursuant to the Private Placement
will be subject to a four month hold period from the date of
issue.
New Chief Financial Officer
The Company today also announced that Brian Lewicki has resigned as Chief Financial
Officer after almost four years of service to Colibri. Camilla Cormier, CPA, CA, will assume the duties
of CFO beginning immediately. "I want to thank Brian for his
dedicated service and welcome Camilla to the Colibri team",
commented Lance Geselbracht.
Disclaimer for Forward-Looking Information:
Certain statements in this release are forward-looking
statements, which reflect the expectations of management.
Forward-looking statements consist of statements that are not
purely historical, including any statements regarding beliefs,
plans, expectations or intentions regarding the future, including
but not limited to the Private Placement and the completion
thereof. Such statements are subject to risks and
uncertainties that may cause actual results, performance or
developments to differ materially from those contained in the
statements. No assurance can be given that any of the events
anticipated by the forward-looking statements will occur or, if
they do occur, what benefits the Company will obtain from them.
These forward-looking statements reflect management's current views
and are based on certain expectations, estimates and assumptions
which may prove to be incorrect. A number of risks and
uncertainties could cause our actual results to differ materially
from those expressed or implied by the forward-looking statements,
including: (1) a downturn in general economic conditions in
North America and internationally,
(2) the inherent uncertainties and speculative nature associated
with mineral exploration and production, (3) a decreased demand for
minerals, (4) any number of events or causes which may delay or
cease exploration and development of the Company's property
interests, such as environmental liabilities, weather, mechanical
failures, safety concerns and labor problems; (5) the risk that the
Company does not execute its business plan, (6) inability to retain
key employees, (7) inability to finance operations and growth, and
(8) other factors beyond the Company's control. These
forward-looking statements are made as of the date of this news
release and, except as required by law, the Company assumes no
obligation to update these forward-looking statements, or to update
the reasons why actual results differed from those projected in the
forward-looking statements.
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.
SOURCE Colibri Resource Corporation