Calibre Mining Announces $2 Million in Strategic Financing

Calibre Mining (TSXV:CXB) announced it intends to sell 25,000,000 units of the company to Pierre Lassonde for $2 million as part of a private placement. Once the private placement closes, Lassonde will hold a 11.2 percent equity stake in Calibre.

According to the press release:

The Private Placement will consist of the Company issuing 25,000,000 Units at a price of $0.08 per Unit. Each Unit will consist of one common share and one-half common share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share for $0.15 for a period of 24 months from the closing date.

Douglas Forster, Chairman of Calibre, said:

Calibre is very pleased to welcome Pierre Lassonde as a significant new shareholder of the Company. Mr. Lassonde is well known in the international mining community and North American capital markets and he is currently Chairman of Franco-Nevada Corporation. Calibre is advancing the Company’s gold projects in Nicaragua in partnership with B2Gold Corp, IAMGOLD Corporation and Alder Resources Ltd. in addition to our 100% owned Siuna District gold targets including the Montes de Oro gold project.

Click here to read the Calibre Mining Corporation (TSXV:CXB) press release