Colibri Announces Non-Brokered Private Placement

Get in touch

(506) 383-4274

info@colibriresource.com

Dieppe, New Brunswick--(Newsfile Corp. - August 23, 2024) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that it intends to conduct a non-brokered private placement (the "Offering") of up to 9,000,000 units (the "Units") at a price of $0.05 for gross proceeds of up to $450,000, each Unit consisting of one (1) common share (a "Common Share") and one (1) common share purchase warrant (the Warrants). Each Warrant will entitle the holder to acquire one additional Common Share of the Corporation at a price of C$0.075 for a period of 24 months following the closing of the Offering.

The net proceeds of the Offering will be used for upcoming exploration expenses at its highly prospective precious metals projects in Mexico, including the Pilar Gold Project & the EP Gold Project and for working capital.

The Offering is anticipated to close towards mid-September 2024 (the "Closing"). Closing may occur in one or more tranches. Closing of the Offering remains subject to the acceptance of the TSX Venture Exchange. Common Shares issuable will be subject to a statutory hold period expiring on the date that is four months and one day after Closing. The Company may pay finders fees to qualified finders as per the guidelines of the TSX Venture Exchange.

The Offering will be conducted by the Company utilizing the "accredited investor" exemption of National Instrument 45-106 -- Prospectus and Registration Exemptions and other applicable exemptions available to the Company.

Interested parties may request further details by contacting: Ian McGavney, President & CEO at (506) 383-4274 or ianmcgavney@colibriresource.com.

Certain insiders of the Company may acquire Units in the Offering. Any participation by insiders in the Private Placement will constitute a "related party transaction" as defined under Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ("MI 61-101"). The Company, however, expects that such participation will be exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as the fair market value of the Units subscribed for by the insiders, nor the consideration for the Units paid by such insiders, will exceed 25% of the Company's market capitalization.

The securities of the Company in this Offering have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act") or any U.S. state securities laws and may not be offered or sold in the United States absent registration or an available exemption from the registration requirement of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities, in any jurisdiction in which such offer, solicitation or sale would be unlawful.

ABOUT COLIBRI RESOURCE CORPORATION:

Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds four high potential precious metal projects: 1) 100% of EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround by Mexico's second largest major producer of gold on four sides, 2) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, and 3) two highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project.

For more information about all Company projects please visit: www.colibriresource.com.

Contact:
Ian McGavney, President, CEO and Director
Tel: (506) 383-4274
ianmcgavney@colibriresource.com

Forward-Looking Statements

Neither the 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 news release.

No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release includes certain "forward-looking statements". These statements are based on information currently available to the Company and the Company provides no assurance that actual results will meet management's expectations. Forward- looking statements include estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Forward-looking statements may be identified by such terms as "believes", "anticipates", "expects", "estimates", "may", "could", "would", "will", or "plan". Since forward-looking statements are based on assumptions and address future events and conditions, by their very nature they involve inherent risks and uncertainties. Actual results relating to, among other things, results of exploration, project development, reclamation and capital costs of the Company's mineral properties, and the Company's financial condition and prospects, could differ materially from those currently anticipated in such statements for many reasons such as: changes in general economic conditions and conditions in the financial markets; changes in demand and prices for minerals; litigation, legislative, environmental and other judicial, regulatory, political and competitive developments; technological and operational difficulties encountered in connection with the activities of the Company; and other matters discussed in this news release. This list is not exhaustive of the factors that may affect any of the Company's forward-looking statements. These and other factors should be considered carefully, and readers should not place undue reliance on the Company's forward-looking statements. The Company does not undertake to update any forward-looking statement that may be made from time to time by the Company or on its behalf, except in accordance with applicable securities laws.

NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES

Related news releases.

Colibri and Partner - Drilling Returns 1.6 g/t Gold Over 36.6 meters from Surface which Includes High-Grade of 15.2 g/t Gold Over 1.2 meters and 5.8 g/t Gold Over 3 meters at El Pilar Gold Project

March 19, 2025

NEWS RELEASE - Dieppe, NB., March 19th, 2025 - Colibri Resource Corporation (TSX.V:CBI) (OTC:CRUCF) ("Colibri" or the "Company") is pleased to share the assay results from the next two holes drilled in its recent 10 hole diamond drilling program (1,167.5 metres) at the El Pilar Gold & Silver Project in Sonora Mexico. Colibri holds 49% interest of the El Pilar along side its partner Tocvan Ventures, which holds a 51% ownership in this advanced stage exploration project. Tocvan is the operator of the El Pilar. “We are very happy with the assay results from hole JES-25-105. The hole is highlighted by 36.3 metres of 1.6 g/t gold (starting at surface and is contained within a longer intercept of 66 metres at 1.0 g/t gold). These are extremely favorable grades to encounter when looking for an open pitable gold deposit in Sonora and confirms the site as a source of moderate grade material for the planned 50,000 tonne test mine/bulk sample. We look forward to releasing the results from the remaining 6 holes of this program in due course as the data is received.” commented, Colibri President & CEO Ian McGavney

Colibri & Partner Drill 83.5 metres at 1.3 grams per tonne Gold (including 10.3 grams per tonne Gold over 9.7 metres) at El Pilar Gold & Silver Project in Sonora Mexico

March 11, 2025

NEWS RELEASE - Dieppe, NB., February 12, 2025 - Colibri Resource Corporation (TSX.V:CBI) (OTC:CRUCF) ("Colibri" or the "Company") is pleased to share the assay results from the first two holes drilled in its recent 10 hole diamond drilling program (1,167.5 metres) at the El Pilar Gold & Silver Project in Sonora Mexico. Colibri holds 49% interest of the El Pilar along side its partner Tocvan Ventures, which holds a 51% ownership in this advanced stage exploration project. Tocvan is the operator of the El Pilar. “We are very pleased with the results from these first two drill holes. The near surface nature of this additional higher-grade mineralization only strengthens our belief that the El Pilar could become a profitable near-term gold and silver production asset for Colibri. The work programs planned for Pilar this year, which includes an up to 50,000 tonne bulk sample/test mine and a maiden resource estimate, should further demonstrate this theory. We look forward to releasing the results from the additional 8 holes of this program in due course as data is received from the operator.” commented, Colibri President & CEO Ian McGavney

Colibri Announces Closing of First Tranche of Its Non-Brokered Private Placement

February 13, 2025

NEWS RELEASE - Dieppe, NB., February 13, 2025 - Colibri Resource Corporation (TSX.V:CBI) (OTC:CRUCF) ("Colibri" or the "Company") is pleased to announce that, further to its news release of January 31, 2025, it has closed, subject to final TSX Venture Exchange (the "Exchange") acceptance, a first tranche of its previously announced non-brokered private placement of units (the "Offering") for aggregate gross proceeds of $140,400. Colibri has issued 5,616,000 units ("Units") at a price of $0.025 per Unit. Each Unit is comprised of one (1) common share (a "Common Share") and one (1) common share purchase warrant ("Warrants") of the Company. Each Warrant entitles the holder to acquire one additional Common Share of the Company at a price of C$0.05 for a period of 24 months following issuance. No insiders participated in this tranche of the Offering. The Common Shares and Warrants are subject to a statutory hold period expiring on the date that is four months and one day after closing. In connection with the closing of this tranche, the Company has agreed to pay a finder's fee of $1,500 and issued 60,000 finder's warrants (the "Finder's Warrants") to an arm's-length party. Each Finder's Warrant entitles the holder to acquire one Common Share of the Company at a price of C$0.05 for a period of 24 months following issuance. The finder's fee is subject to Exchange acceptance. As disclosed in its news release of January 31, 2025, the proceeds of the Offering are expected to be applied as follows: approximately 20% for upcoming exploration expenses at Colibri's highly prospective precious metals projects in Mexico, including the Pilar Gold Project & the EP Gold Project, 65% for arm's length creditors including payment of interest expenses on outstanding loans and up to 15% to non-arm's length parties as reimbursement for expenses paid on behalf of the Company by the non-arm's length parties. No proceeds are being used for investor relations activities. The Company will be relying on appropriate exemptions from the formal valuation and minority shareholder approval requirements of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions (" MI 61-101 ") for payments to non-arm's length parties. The Company anticipates completing a second tranche of the Offering within the next few weeks. Final closing of the Offering (including any second tranche) is subject to acceptance of the TSX Venture Exchange. About Colibri Resource Corporation: Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds four high potential precious metal projects: 1) 100% of the 4,766 hectare EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround by Mexico’s second largest major producer of gold on four sides, 2) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, and 3) two highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project). For more information about all Company projects please visit: www.colibriresource.com . For information contact: Ian McGavney, President, CEO and Director, Tel: (506) 383-4274, ianmcgavney@colibriresource.com 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. Notice Regarding Forward-Looking Statements: This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.

ALL NEWS RELEASES