Colibri Resource Corporation Announces Private Placement

DIEPPE, NB, Oct. 9, 2019 /CNW/ - (CBI-TSXV) Colibri Resource Corporation ("Colibri" or the "Company") wishes to announce that, subject to regulatory approval, it has completed a private placement in the amount of 3,260,000 units for gross proceeds of $163,000 and incurred cash commissions of $4,200.

The 5 cent units consist of one common share and one full share purchase warrant. Each warrant entitles the investor to acquire one additional common share at $0.10 for three years from the closing of the private placement.

The Company may pay finder's fees in connection with this placement in accordance with TSX Venture Exchange regulations. 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.

Proceeds of the placement will be primarily used for exploration activities as well as for general working capital.

For more information about all of 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 acquiring and exploring 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

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