Libero Announces Private Placement

 
 

Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) announces a non-brokered private placement of up to $5 million .  The net proceeds will be used for drilling the Big Red, Big Bulk and Esperanza porphyry copper projects and general working capital purposes.  Concurrently with closing the private placement the outstanding common shares will be consolidated.  Eventus Capital Corp. is acting as a finder in connection with a portion of the Offering.

 
 

  Libero Copper & Gold Corporation Logo (CNW Group/Libero Copper & Gold Corporation.) 

 
 

  Consolidation  

 

Libero will consolidate (the " Consolidation ") all of its outstanding common shares (" Common Share ") on the basis of five (5) pre-Consolidation Common Shares for one (1) post-Consolidation Common Share. The reasons for the Consolidation are to increase Libero's flexibility in the marketplace and to make Libero's securities more attractive to a wider audience of potential investors.  The record and effective date (" Effective Date ") of the Consolidation will be announced shortly.

 

Libero currently has 149,943,422 Common Shares issued and outstanding. As at the Effective Date (prior to taking into account the Common Shares issued in the Offering described below), Libero will have 29,988,684 Common Shares issued and outstanding. Libero will make similar adjustments to its outstanding incentive stock options and outstanding warrants. Any fractional interest in Common Shares resulting from the Consolidation will be rounded down to the nearest whole Common Share.  Registered shareholders will receive a letter of transmittal from Olympia Trust Company, Libero's transfer agent, with information on how to replace their old share certificates with the new share certificates.  Brokerage firms will handle the replacement of share certificates on behalf of their shareholders accounts. The Consolidation will occur immediately prior to the closing of the Offering (as defined below).

 

  Financing  

 

Libero announces a non-brokered private placement consisting of: (i) Units (" Unit ") at a price of $0.50 per Unit (the " NFT Offering "); (ii) Units at a price of $0.55 per Common Share (the " FT Offering ") and (iii) Units at a price of $0.725 per Unit (the " Super   FT Offering " and together with the NFT Offering and FT Offering, the " Offering ") for gross aggregate proceeds of up to $5 million .

 

Each Unit (including those issued pursusant to the NFT Offering, the FT Offering and the Super FT Offering) will be comprised of one post-Consolidation Common Share and one-half of one Common Share purchase warrant (each whole warrant, " Warrant "). Each Warrant shall be exercisable to acquire one Common Share (" Warrant Share ") at a price of $0.75 per Warrant Share for a period of 24 months from the closing of the Offering. If the closing price of the Common Shares is at a price equal to or greater than $1 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.

 

Common Shares issued under the FT Offering and Super FT Offering qualify as 'flow through shares' (" Flow Through Shares ").  The gross proceeds from the FT Offering and Super FT Unit Offering will be used to incur 'Canadian exploration expenses' that will qualify as 'flow through mining expenditures' as those terms are defined in the Income Tax Act which will be renounced to the initial purchasers of the Flow Through Shares.

 

A Finder's Fee of 6% will be payable in cash or Units on a portion of the Offering. The Consolidation and closing of the Offering is subject to approval of the TSX Venture Exchange. Securities issued in the Offering are subject to a statutory hold period of four months.

 

   About Libero Copper & Gold   

 

Libero is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes Big Red (a new greenfield discovery) and Big Bulk in the Golden Triangle, Canada , Esperanza in San Juan, Argentina , and the Mocoa deposit in Colombia . 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, and include without limitation, statements regarding the Offering and use of proceeds, the Consolidation and future business plans.. 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.  

 
 
 

SOURCE Libero Copper & Gold Corporation.

 

 

 

 Cision View original content to download multimedia: https://www.newswire.ca/en/releases/archive/February2021/03/c2754.html  

 
 

News Provided by Canada Newswire via QuoteMedia

The Conversation (0)
Loyal Metals Limited

Loyal to Acquire the High-Grade Highway Reward Copper Gold Mine

Loyal Metals Limited (ASX:LLM) (Loyal, LLM, or the Company) is pleased to announce that it has acquired a binding option to purchase the Highway Reward Copper Gold Mine in Queensland, Australia, one of the highest-grade copper mines worldwide, with past production totalling 3.65 million tonnes at 5.7% Cu and 260,000 tonnes at 4.5 g/t Au 1-9. This acquisition is the first step in Loyal’s 2025 Strategic Plan to broaden its critical minerals portfolio into copper. No exploration has been conducted on the mining leases since mining ceased in July 2005, despite a ~680% increase in copper prices and a ~1,256% increase in gold prices since the 1997 feasibility study 3,4. With over $4.4 million in funding, Loyal is well-positioned to revisit the high-grade Highway Reward Copper Gold Mine by deploying modern exploration techniques11.

Keep reading...Show less
Textured copper ribbons weave over a black background.

​Copper​ Market Hit by Major Supply Squeeze as LME Inventories Drop

One of the sharpest copper supply crunches in recent memory is rattling global commodities markets, as inventories at the London Metal Exchange (LME) plummet and the spot price soars.

Bloomberg reported that as of Monday (June 23), copper for immediate delivery was trading at a premium of US$345 per metric ton over three month futures, the widest spread since a record squeeze in 2021.

That dramatic price divergence reflects the market’s acute concerns over access to physical copper, with readily available inventories on the LME falling by around 80 percent this year alone.

Keep reading...Show less
Many copper bobbins and warehouse copper pipes.

Top 10 Copper-producing Companies

Copper miners with productive assets have much to gain as supply and demand tighten.

In May 2024, the copper price hit a new all-time high of US$10,954 per metric ton (MT) on the London Metal Exchange and US$5.20 per pound on the COMEX on the back of increasing demand and growing supply concerns.

Copper is one of the most important resources for the energy transition. However, in recent years, demand for the red metal has outpaced mining supply. While construction and electrical grids have long been major markets for copper, today the rise in demand for electric vehicles, EV charging infrastructure and energy storage applications are emerging drivers of copper consumption.

Another trend driving future copper demand is the rapid urbanization in the Global South, as rural populations migrate to cities, putting pressure on electricity grids.

Keep reading...Show less
White Cliff Minerals

John Hancock to join White Cliff Minerals Board

Astrotricha Capital SEZC appointed Advisors

White Cliff Minerals Limited (“WCN” or the “Company”) (ASX: WCN; OTCQB: WCMLF) is pleased to announce that John Hancock will join the Board of White Cliff Minerals effective 1 August 2025.

Keep reading...Show less
Gavel on books with "5 Top Canadian Mining Stocks This Week" text overlay.

Top 5 Canadian Mining Stocks This Week: Royalties Jumps 183 Percent on Legal Win

Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian and US news impacting the resource sector.

Friday (June 20) was the last day for the spring session of Canada’s parliament before its summer break.

On the agenda for the day was a vote on bill C-5, “The One Canadian Economy Act,” which was introduced on June 5.

Keep reading...Show less
Cyprium Metals

Nifty Copper Project Virtual Site Visit

Cyprium Metals Limited (ASX: CYM, OTC: CYPMF) (Cyprium or the Company) invites shareholders to join an investor webinar and live Q&A hosted by Executive Chairman Matt Fifield on Tuesday 24th June 2025. Investors will be guided on a virtual site visit of the Nifty Copper Complex showcasing the sulphide and heap leach resources and extensive brownfield infrastructure.

Keep reading...Show less

Latest Press Releases

Related News

×