DIEPPE, NB, March 16, 2018 /CNW/ - (CBI: TSX-V) – Colibri
Resource Corporation ("Colibri" or the "Company") is very pleased
to announce that it has closed an over-subscribed second tranche on
its previously announced financing (see the Company's news releases
of March 2 and March 9, 2018). The Company has issued an
additional 1,350,000 units at $0.10
per unit for gross proceeds of $135,000. Total gross proceeds raised
between the first and second tranches is $1,212,098.
The units consist of 1 common share and 1 common share purchase
warrant. Each warrant entitles the holder to acquire one
additional common share at $0.15 for
5 years from the closing of the private placement.
No finder's fees were payable on the second tranche of this
financing.
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. Final
closing of the financing is subject to TSX Venture Exchange
approval.
The funds raised from this equity issuance will be used for
Phase 1 of an infill and exploration drilling program at the
Company's Pilar Project in Sonora State, Mexico as well as for general working
capital.
For more information about all of our projects please visit:
www.colibriresources.com.
We seek safe harbour.
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