Libero Copper Upsizes Private Placement to $7 Millionand Announces Closing of First Tranche
VANCOUVER, BC, Dec. 2, 2021 /CNW/ – Libero Copper & Gold Corporation(TSXV: LBC) (OTCQB: LBCMF) (DE:29H) (“ Libero Copper“) is pleased to announce that due to strong investor demand, it has increased the non-brokered private placement announced on November 8, 2021 (the “ Offering“) for the sale of up to 14,000,000 units(the “ Units“) at a price of $0.50 per Unit for gross proceeds of up to $7,000,000. Each Unit will be comprised of onecommon share (each, a “ Unit Share“) and one half of one common share purchase warrant (each whole warrant, a” Warrant“).
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Each Warrant will entitle the holder thereof to purchase one common share (each, a “ Warrant Share“) at a price ofC$0.75 until December 1, 2023. If during the exercise period of the Warrants, but after the resale restrictions on theCommon Shares have expired, the closing price of the Common Shares is at a price equal to or greater than $1.00for a period of 10 consecutive trading days, Libero Copper will have the right to accelerate the expiry date of theWarrants by giving notice, via a new release, to the holders of the Warrants that the Warrants will expire on the datethat is 30 days after the issuance of said news release.
The first tranche of 4,000,000 units (the “ Units“) at a price of $0.50 per Unit for gross proceeds of $2,000,000 wasclosed on December 1, 2021. Eventus Capital Corp. acted as a finder in connection with a portion of the Offering.
The net proceeds will be used for drilling the Mocoa porphyry copper project and for working capital and generalcorporate purposes. A finder’s fee of $50,100 cash and 100,200 Broker Warrants was paid on a portion of theOffering. Each Broker Warrant entitles the holder thereof to purchase one common share at a price of $0.50 untilDecember 1, 2023. Securities issued in the Offering are subject to a statutory hold period expiring on April 1, 2022.
The balance of the Offering is scheduled to close in December 2021, and is subject to certain conditions including,but not limited to, the receipt of the approval of the TSX Venture Exchange.
About Libero Copper & Gold
Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolificand stable jurisdictions. The portfolio includes Big Red (a new grassroots discovery) and Big Bulk in the GoldenTriangle, Canada; Esperanza in San Juan, Argentina; and Mocoa in Putumayo, Colombia. These assets areadvanced by a highly disciplined and seasoned professional team with successful track records of discovery,resource development, and permitting in the Americas.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither the TSXVenture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX VentureExchange) 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 ofhistorical fact, are to be considered forward looking. Although the Company believes the expectations expressed insuch forward-looking statements are based on reasonable assumptions, such statements are not guarantees offuture performance and actual results or developments may differ materially from those in forward-lookingstatements. Factors that could cause actual results to differ materially from those in forward-looking statementsinclude the Company not receiving the necessary regulatory approvals in respect of the Offering, market prices,exploitation and exploration successes, continued availability of capital and financing, and general economic, marketor business conditions and regulatory and administrative approvals, processes and filing requirements. There can beno assurances that such statements will prove accurate and, therefore, readers are advised to rely on their ownevaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements.
SOURCE Libero Copper & Gold Corporation.
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For further information: Ian Harris, Chief Executive Officer, +1 604 294 9039, harris@liberocopper.com; TetianaKonstantynivska, Investor Relations, +1 778 372 0179, konstantynivska@liberocopper.com
CO: Libero Copper & Gold Corporation.
CNW 08:00e 02-DEC-21