The Goguen Family Trust acquires Common Shares of Colibri Resource Corporation for Investment Purposes

MONCTON, NB, Aug. 9, 2017 /CNW/ - The Goguen Family Trust (the "Acquiror") announced today that it has indirectly acquired, through its wholly owned investment company, Blue Chip Investments Inc. ("Blue Chip"), 3,905,914 common shares of Colibri Resource Corporation (the "Issuer") at a deemed price of $0.165 per common share with an aggregate value of $644,475.81. The acquired shares represent 10.76% of the issued and outstanding common shares of the Issuer. The Acquiror, through Blue Chip, held 17,000 common shares of the Issuer prior to this acquisition. As a result of this acquisition, the Acquiror now owns indirectly, 3,922,914 common shares representing 10.81%. of the issued and outstanding common shares of the Issuer.

The Acquiror is a private investment entity which is arm's length to the Issuer and its insiders.

The Acquiror acquired the common shares of the Issuer as a result of a return of capital dividend declared by ONTOP Capital Limited ("ONTOP") to its shareholders. The Acquiror's investment company, Blue Chip, is a shareholder of ONTOP.

ONTOP acquired the common shares of the Issuer as consideration for the sale of its wholly owned subsidiary, Canadian Gold Resources Ltd., to the Issuer pursuant to the terms of a share exchange agreement dated March 10, 2017 (the "Agreement"). Pursuant to the Agreement, the Issuer issued 24,242,425 common shares to ONTOP at a deemed value of $0.165 per common share  (the "Consideration Shares") for a total purchase price of $4,000,000.  Effective immediately after closing of the Agreement, ONTOP distributed the Consideration Shares to its shareholders (including Blue Chip) by way of a return of capital dividend

The Acquiror may be contacted c/o 105 Englehart Street, Suite 700, Dieppe, New Brunswick E1A 8K2. The Acquiror acquired these common shares in the ordinary course of its business and investment activities, and may, from time to time, acquire additional securities of the Company or dispose of such securities as it may deem appropriate.

SOURCE Colibri Resource Corporation

Copyright 2017 Canada NewsWire