Colibri Announces Closing of First Tranche of Its Over-subscribed Non-Brokered Offering and Engages CANMEX for Drilling at EP Gold Project
Rhea-AI Summary
Colibri (CRUCF) closed a first tranche of a non-brokered private placement on November 3, 2025, raising $1,350,722 by issuing 9,004,816 units at $0.15 each. Each unit includes one common share and one warrant exercisable at $0.25 for 24 months. The company agreed to pay $71,504 in finder's fees and issue 476,693 finder’s warrants. The closing is subject to final TSXV acceptance and securities are subject to a four-month-plus-one-day hold period.
Net proceeds will fund exploration at Pilar and EP in Mexico. Colibri engaged CANMEX to drill the EP Gold Project, focusing on San Perfecto and Banco de Oro targets.
Positive
- Gross proceeds of $1,350,722 from first tranche
- Issued 9,004,816 units at $0.15 per unit
- Drilling engagement with CANMEX for EP Gold Project
- Drill program targets San Perfecto and Banco de Oro
Negative
- Finder's fees of $71,504 plus 476,693 finder’s warrants (dilution)
- Closing remains subject to TSXV acceptance
- Common shares and warrants on a four-month-plus-one-day hold period
Dieppe, New Brunswick--(Newsfile Corp. - November 3, 2025) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") is pleased to announce that, further to its news release of October 28, 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
Colibri has issued 9,004,816 units ("Units") at a price of
The Common Shares and Warrants are subject to a statutory hold period expiring four months and one day after closing. In connection with the closing of this tranche, the Company has agreed to pay finder's fees totaling
Mr. Ian McGavney, Director and CEO, purchased 269,000 Units for proceeds of
Net proceeds will be used to advance exploration at Colibri's flagship Mexican gold projects, including Pilar and EP, and for general working capital. The Company anticipates completing a second tranche of the Offering in the coming days.
Colibri Retains CANMEX for Upcoming EP Gold Program
The Company is also pleased to announce that it has engaged CANMEX Perforaciones y Servicios SA de CV ("CANMEX") to conduct its next phase of drilling at the EP Gold Project, located in Sonora, Mexico. The upcoming program will focus primarily on the San Perfecto and Banco de Oro target areas-marking the first drilling by Colibri in these highly prospective zones.
Drill targets have been defined through the integration of surface sampling, geological mapping, and geophysical surveys. The work has outlined multiple areas of coincident structural and geochemical signatures believed to represent extensions of known mineralized systems.
The EP Gold Project lies within the prolific Caborca Gold Belt, host to numerous multi-million-ounce deposits and producing mines.
"With gold prices at all-time highs and strong investor interest in quality exploration stories, we're excited to be advancing the EP Gold Project with a fully funded program," said Ian McGavney, President & CEO of Colibri. "We're very pleased to be working with CANMEX, a proven operator in Sonora, as we look to build on the promising results already achieved at EP."
About Colibri Resource Corporation
Colibri Resource Corporation (TSXV: CBI) is a Canadian junior mining company engaged in the acquisition, exploration, and development of precious metal properties in Sonora, Mexico. The Company holds a
For more information, visit www.colibriresource.com
For further information contact:
Ian McGavney, President, CEO and Director
Tel: (506) 383-4274 | Email: 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/272972
FAQ
How much did Colibri (CRUCF) raise in the first tranche on November 3, 2025?
What are the warrant terms for units issued by Colibri (CRUCF)?
Who will conduct drilling for Colibri (CRUCF) at the EP Gold Project?
Which target areas will Colibri (CRUCF) drill at EP Gold Project?
What will Colibri (CRUCF) use the net proceeds for?
Are there any restrictions on the new shares and warrants from Colibri (CRUCF)?
Did any related party participate in Colibri's (CRUCF) offering on November 3, 2025?
