Libero Closes Private Placement
Libero Copper & Gold Corporation (“Libero”) (TSX-V: LBC, OTCQB: LBCMF) announces it has now closed its previously announced non-brokered private placement (“Placement”) which consisted of a total of 4,500,000 Units (“Unit”) at a price of C$0.10 per Unit for aggregate proceeds of C$450,000.
Each Unit consists of one Common Share (“Common Share”) and one Common Share purchase Warrant (“Warrant”). Each Warrant entitles the holder to acquire one Common Share for a period of 24 months from closing at a price of C$0.15. If the closing price of the Common Shares is at a price equal to or greater than $0.20 for a period of 10 consecutive trading days, Libero will have the right to accelerate the expiry date of the warrants by giving notice, via a new release, to the holders of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said news release.
The net proceeds of the Offering will be used for drilling the Ridge high grade gold target at Big Red and general working capital purposes. Closing of the Offering is subject to approval of the TSX Venture Exchange and all shares issued through the Placement are subject to a mandatory 4 month hold period expiring on July 13, 2020.
About Libero Copper & Gold
Libero holds a collection of porphyry deposits throughout the Americas in prolific but stable jurisdictions. The portfolio includes both exploration properties such as Big Red, a new gold discovery in the Golden Triangle, Canada, and high-quality deposits with significant resources but without any fatal flaws or significant holding costs. The Tomichi copper deposit in the United States and the Mocoa copper deposit in Colombia, both contain large inferred mineral resources. In total, the Mocoa and Tomichi properties contain 7.9 billion pounds of copper and 1.1 billion pounds of molybdenum. These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.
Neither the 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. This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
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