VANCOUVER, June 30, 2016 /CNW/ - Colibri Resource
Corporation ("Colibri" or the "Company") (TSX.V-CBI) is pleased
to announce that it has closed its previously announced
non-brokered private placement (the "Private Placement") of
1,000,000 units (each, an "Unit") for total proceeds of up
to $100,000 at $0.10 per Unit. Each Unit comprises of one
common share of the Company (a "Share") and one half of one
whole warrant to purchase an additional share at a price of
$0.15 per share if exercised within
the two years.
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 maintain Colibri's operations. No part of
the proceeds will be used to pay management fees or to pay related
parties of the Company.
The Shares are subject to a four month hold period expiring
October 31, 2016. The Private
Placement remains subject to final acceptance from the TSX Venture
Exchange.
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 receipt of final TSX Venture Exchange acceptance
for the Private Placement. 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