Colibri Resource Corporation Announces Private Placement to Support Exploration and Debt Management

Colibri Resource ( (TSE:CBI) ) has shared an update.

Colibri Resource Corporation, a company listed on the TSX Venture Exchange, has announced a non-brokered private placement to raise up to $250,000 through the issuance of 10,000,000 units, each comprising a common share and a purchase warrant. The proceeds from this offering will be used primarily for exploration expenses in Mexico, debt payments, and reimbursements to non-arm’s length parties. This strategic move is expected to enhance Colibri’s operational capabilities and financial flexibility, with potential impacts on its market positioning and stakeholder relations.

More about Colibri Resource

YTD Price Performance: 25.00%

Average Trading Volume: 123,711

Technical Sentiment Consensus Rating: Buy

Current Market Cap: C$2.6M

For an in-depth examination of CBI stock, go to TipRanks’ Stock Analysis page.