Colibri Resource Corporation Announces Closing of Private Placement

Dieppe, New Brunswick--(Newsfile Corp. - April 12, 2021) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") wishes to announce that it has received regulatory approval and has closed a non-brokered private placement of 23,482,000 units at $0.10 per unit for proceeds of CAD $2,348,200.

The units consist of one common share and one full share purchase warrant. Each warrant entitles the investor to acquire one additional common share at $0.15 for two years from the closing of the private placement.

Funds will be used for general corporate purposes and for exploration and evaluation expenditures on the Company's properties.

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-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring and exploring prospective gold & silver properties in Mexico. The Company has six exploration projects of which five currently have exploration programs being executed or planned. The flagship Evelyn Gold Project is 100% owned and explored by Colibri. Colibri has an option to acquire up to a 100% ownership interest in the Diamante Gold & Silver Project and will soon begin exploration work in preparation for a Phase 1 drilling program. Three additional projects, Pilar Gold & Silver Project (optioned to Tocvan Ventures - CSE: TOC), El Mezquite Gold & Silver Project and the Jackie Gold & Silver Project (both earn-in agreements with Silver Spruce Resources - TSXV: SSE) are also currently being actively advanced.

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

For further information:
Ronald J. Goguen, President, Chairperson and Director
Tel: (506) 383-4274
rongoguen@colibriresource.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/80113