NEWS RELEASE

Colibri Announces Non-Brokered Private Placement

August 23, 2024

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


Share This.

Related news releases.

July 16, 2025
NEWS RELEASE - DIEPPE, N.B., July 16, 2025 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) announces its intention to amend certain terms of its currently outstanding 10% unsecured convertible debentures (the “Debentures”) that were originally issued in two tranches by the Company through private placement on August 1 and August 31, 2023 (see the Company’s news releases of August 4, September 12 and September 22, 2023). As at the date hereof, there is US$619,000 of Debentures outstanding. The Company also intends to amend the terms of 3,720,792 outstanding common share purchase warrants (the “Warrants”) and 11,049 finders’ options (the “Finder’s Options”) which were issued in conjunction with the Debentures. The Debentures mature as to US$444,000 on August 1, 2025 and US$175,000 on August 31, 2025 with 10% annual interest payable quarterly and upon maturity. The principal amount of the Debentures are currently convertible into common shares at a price of C$0.50 per Common Share after adjusting for a share consolidation effected on June 13, 2025 (see the Company’s news release dated June 11, 2025). The Debentures carry a fixed foreign exchange rate of C$1.30 for each US$1 of principal for conversion purposes. Interest on the Debentures may not be converted to Common Shares. In respect of the Warrants, each Warrant currently entitles the holder to acquire one Common Share at a price of C$0.60 per share (after adjusting for the aforementioned share consolidation) with 2,637,582 Warrants expiring on August 1, 2025 and 1,083,200 expiring on August 31, 2025. Each Finder’s Options currently entitles the holder to acquire one Common Share at a price of C$0.60 per share (after adjusting for the aforementioned share consolidation) expiring on August 31, 2023. The Company intends to amend the Debentures as follows: The maturity date will be extended for an additional two years to August 1, 2027 and August 31, 2027 respectively and the conversion price will be reduced to C$0.25 per Common Share; alternatively, debenture holders will be offered the option to convert the Debentures at a price of C$0.15 per Common Share on the current maturity date. All other terms of the Debentures remain unchanged. The Company intends to amend the term of the Warrants and the Finder’s Options by extending their expiry date an additional two years and reducing the exercise price to C$0.25. In accordance with TSX Venture Exchange policy, any amended Warrants and Finder’s Options will include an accelerated expiry clause such that the exercise period of the amended Warrants and Finder’s Options will be reduced to 30 days if, for any ten consecutive trading days during the unexpired term of the amended Warrants and Finder’s Options, the closing price of the Company’s Common Shares exceeds $0.30. Insiders of the Company currently hold 135,400 Warrants (the “Insider Warrants”). The application of any amendments to the Insider Warrants constitutes a "related party transaction" within MI 61-101 – Protection of Minority Security Holders in Special Transactions ("MI 61-101") but are exempt from the MI 61-101 valuation and minority approval requirements for related party transactions under sections 5.5(a) and 5.7(1)(a) as neither the fair market value (as determined under MI 61-101) of the subject matter of, nor the fair market value of the consideration for, the transaction, insofar as it involves the Related Parties, exceeds 25% of the Company's market capitalization (as determined under MI 61-101). Any amendments to the Debentures, Warrants and Finder’s options are subject to acceptance of the TSX Venture Exchange. Reasoning for the Proposed Amendments Strategic Timing to Advance Pilar and Drive Shareholder Value The Company is taking proactive steps to strengthen its balance sheet and align capital with its most compelling near-term growth opportunity, the advancement of the Pilar Gold & Silver Project. The Company’s proposed restructuring of the Debentures comes at a pivotal time, as Pilar progresses toward bulk sampling, supported by strong recent and historical exploration results. Momentum Toward Test Mining Colibri’s joint venture partner, Tocvan Ventures, announced on June 18, 2025, that engineering and design for a 50,000-tonne pilot leach facility is now complete, with the permitting process well underway. Tocvan has indicated it does not foresee delays in approvals and intends to commence construction following final permit acceptance. If successful, a pilot test mine run of Pilar materials could generate a relatively meaningful amount of cash flow over a short period, helping to reduce Colibri’s near-term capital requirements and further de-risking its 49% interest in the project. Pilar Drill & Bulk Sample Results Highlight Gold-Silver Potential Over multiple exploration phases, drilling at Pilar has consistently returned broad zones of oxidized near-surface gold mineralization, along with high-grade intercepts—critical for the economics of the upcoming test mine. Highlights include: 2025 (Diamond Drilling – JES-25 Series): 83.5 @ 1.3 g/t Au from surface, including 10.3 g/t over 9.7m 64.9 m @ 1.2 g/t Au, including 3.0 m @ 21.6 g/t Au and 209 g/t Ag—marking the first high-grade intercept along the North Hill trend (JES-25-108) 2023 Bulk Sample: A 1,200-tonne surface sample yielded an average head grade of 1.9 g/t Au with a calculated recovery rate of approximately 62%, confirming the presence of near-surface mineralization amenable to heap leach or vat leach processing. Historical Drilling (2020–2022): 116.9 m @ 1.2 g/t Au, including 10.2 m @ 12.0 g/t Au and 23 g/t Ag (Phase III) 94.6 m @ 1.6 g/t Au, including 9.2 m @ 10.8 g/t Au (Phase I) 47.7 m @ 0.7 g/t Au, including 3.0 m @ 5.6 g/t Au and 22 g/t Ag (Phase II) (Above technical information cited in Tocvan Ventures Corp. news release dated June 18th, 2025 which was reviewed and approved by Brodie A. Sutherland, qualified person for Tocvan Ventures Corp.) Together, these results demonstrate the continuity, scale, and metallurgical potential of gold mineralization at Pilar, while outlining multiple high-grade near-surface zones that could meaningfully contribute to the upcoming bulk test mine. What This Means for Shareholders The pilot plant is nearing approval, and Colibri’s 49% stake positions it to potentially benefit directly from the Pilar’s bulk sample / test phase’s outcome. The restructuring of the Debentures will reduce immediate financial obligations, freeing up capital to support the Pilar bulk sample / test mine program and broader exploration. With gold prices trading near historic highs, the ability to advance a high-grade, near-surface gold system into production under a low-capex pilot structure presents a compelling opportunity to unlock value for shareholders. By aligning its financial position with Pilar’s development timeline, Colibri is taking a disciplined, shareholder-first approach to unlocking value from one of the most advanced gold projects in Sonora. For Debenture holders, they will now have the opportunity to participate significantly in the potential upside in the Pilar Gold & Silver Project.
June 17, 2025
NEWS RELEASE - DIEPPE, N.B., June 17, 2025 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) is pleased to announce the results of its Annual General Meeting (“AGM”) of shareholders held on June 13, 2025. A total of 9,451,871 common shares were represented in person or by proxy at the meeting, representing approximately 8.19% of the Company’s issued and outstanding shares as of the record date. Shareholders voted in strong support of all resolutions, each of which was approved with 99.88% of the votes cast. Election of Directors The following individuals were elected as directors of the Company until the next annual general meeting or until their successors are duly elected or appointed:
June 11, 2025
NEWS RELEASE - DIEPPE, N.B., June 11, 2025 -- Colibri Resource Corporation (“Colibri” or the “Company”) (CBI: TSX-V) announces that, further to the Company’s press release on May 14, 2025, Colibril has received approval of the TSX Venture Exchange (the “TSXV”) for the consolidation of its issued and outstanding common shares (each, a “Share”) on the basis of five (5) pre-consolidation Shares for each one (1) post-consolidation Share (the “Consolidation”). The Consolidation is being effected pursuant to a resolution of the board of directors of the Company dated May 5, 2025. No shareholder approval is required for the Consolidation to come into effect. The Company has obtained a new CUSIP (194168407) and ISIN (CA194168407) in connection with the Consolidation. There will be no name change or trading symbol change in conjunction with the Consolidation. Effective at the opening of trading on Friday, June 13, 2025 (the “Effective Date”), the Shares will commence trading on the TSXV on a consolidated basis. As at the date hereof, there are a total of 115,417,625 Shares issued and outstanding. Assuming no other change to the issued and outstanding Shares, a total of 23,083,525 Shares, subject to adjustments for rounding, will be issued and outstanding on the Effective Date. No fractional post-Consolidation Shares will be issued as a result of the Consolidation. Fractional Shares will be rounded up to the next nearest whole number of Shares if the fraction is at least half of a Share and rounded down to the nearest whole number of Shares if the fraction is less than half a Share. The exercise or conversion price, and the number of Shares issuable under any of the Company’s outstanding convertible securities, if any, will be proportionately adjusted upon the Effective Date. A letter of transmittal from the Company’s transfer agent, Computershare Investor Services Inc., will be mailed to registered shareholders providing instructions on how to exchange their physical Share certificates representing pre-Consolidation Shares for new certificates representing post-Consolidation Shares. Shareholders who hold their Shares in DRS/Book or in brokerage accounts are not required to take action to effect an exchange of their pre-Consolidation Shares for post-Consolidation Shares. Until surrendered, each Share certificate representing pre-Consolidation Shares will represent the number of whole post-Consolidation Shares to which the holder is entitled as a result of the Consolidation.
ALL NEWS RELEASES