By Laura Lutz
Des Moines, March 30 - Colibri Resource Corp. lowered the unit price in its previously announced private placement of 7 million units, decreasing the placement size to C$2.8 million from C$3.15 million.
The unit price is now C$0.40, down from C$0.45 when the deal priced on Feb. 27.
The units consist of one share and one warrant. Each warrant is exercisable at C$0.70 for one year.
Bolder Investment Partners is the placement agent.
Proceeds will be used for exploration and drilling on the company's Sonora, Mexico, properties. The rest will be used for working capital.
Based in Vancouver, B.C., Colibri Resource is a mineral exploration company.
| Issuer: | Colibri Resource Corp.
|
| Issue: | Units of one share and one warrant
|
| Amount: | C$2.8 million
|
| Units: | 7 million
|
| Price: | C$0.40
|
| Warrants: | One warrant per unit
|
| Warrant expiration: | One year
|
| Warrant strike price: | C$0.70
|
| Placement agent: | Bolder Investment Partners
|
| Pricing date: | Feb. 27
|
| Downsized: | March 30
|
| Stock symbol: | TSX Venture: CBI
|
| Stock price: | C$0.44 at close Feb. 27
|
| Stock price: | C$0.435 at close March 29
|
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