Colibri Resource Corporation Closes First Tranche of Private Placement

DIEPPE, N.B., Sept. 7, 2017 /CNW/ - (CBI: TSX-V) – Colibri Resource Corporation ("Colibri" or the "Company") is pleased to announce that it has closed a first tranche of its previously announced non-brokered private placement (see the Company's news release dated August 29, 2017). The Company has issued 4,265,000 units at a price of $0.15 per Unit for gross proceeds of $639,750.00.  Each unit consists of one common share and one warrant.  Each warrant entitles the holder to acquire one additional common share of the Company at a price of $0.25 per share for a period of 24 months following closing.  The Units are subject to resale restrictions until January 7, 2018 under applicable securities legislation.

Proceeds from this financing will be used for continued exploration of the Company's properties and general working capital. 

The Company has paid a finder's fees with respect to certain subscribers in the aggregate amount of $29,622.50 and issued 197,750 finder's warrants. The finder's warrants are non-transferable and exercisable into common shares at $0.25 on the substantially the same terms as the warrants issued to the subscribers.

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

Ronald J. Goguen, President, CEO and Director, Tel: [phone], [email protected]