Friday, May 15, 2020

Colibri Resource Corporation Announces Changes to its Board of Directors and sets $100,000 Private Placement

Dieppe, NB. May 15th, 2020. (CBI-TSXV) Colibri Resource Corporation (“Colibri” or the “Company”) is pleased to announce the appointment of Jamie Lavigne to its Board of Directors. Mr. Lavigne is an economic geologist with over 30 years experience covering exploration, deposit delineation, resource estimation, and mine development. Mr. Lavigne has developed expertise in gold mineralization systems through project work and consulting assignments in Mexico, SE Asia, Colombia, Peru, the western USA, and Archean terrains in eastern and northern Canada.  Mr. Lavigne has a M.Sc. in geology and is a registered Professional Geologist (P.Geo.).

The corporation also announces the resignation of Paul Bartos from its Board of Directors. The Board sincerely thanks Paul for his contributions during his tenure and wishes him the best in his endeavors.

In addition, the corporation announces that, subject to regulatory approval, it has completed a private placement in the amount of 2,000,000 shares at $0.05 per share for gross proceeds of $100,000. Proceeds of the placement will be used for general working capital.

The Company will not pay finder’s fees in connection with this placement. 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. Closing of the financing is subject to TSX Venture Exchange acceptance.

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

We seek safe harbour.

About Colibri Resource Corporation:

Colibri is a Canadian mineral exploration company listed on the TSX-V(CBI) focused on exploring and developing prospective gold 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

For further information: Ronald J. Goguen, President, Chairperson and Director, Tel:(506) 383-4274, rongoguen@colibriresource.com