Colibri Resource Corporation announced a non-brokered private placement of 1,000 units at a price of $1,000 per unit for the gross proceeds of $1,000,000 on June 30, 2023. Each unit consists of a $1,000 principal amount 10% unsecured convertible debenture and 5,416 common share purchase warrants. Each Warrant will entitle the holder to acquire one common share of the Corporation at a price of CAD 0.12 per Common Share for a period of 24 months following the closing of this offering.

Closing may occur in one or more tranches. The Offering is anticipated to close towards the end of July, 2023. The Debentures will bear interest at 10% per annum, calculated in US dollars, from the date of issuance, payable in arrears quarterly and upon maturity or redemption.

The Debentures will mature on the date that is two years from the date of issuance. Closing of the Offering remains subject to the acceptance of the TSX Venture Exchange.