Libero Copper Closes Private Placement
VANCOUVER, British Columbia, Dec. 07, 2018 (GLOBE NEWSWIRE) — Libero Copper Corporation (TSX-V: LBC, OTCQB: LBCMF) announces that the non-brokered private placement (the “Private Placement”) announced on November 27, 2018 of 6,666,667 common shares (the “Common Shares”) at a price of $0.075 per Common Share (the “Offering”) for aggregate gross proceeds of $500,000 has closed. Finder’s fees in the total amount of $9,375 were paid. The Common Shares have been issued subject to a 4 month hold period ending April 7, 2019.
The net proceeds of the Offering will be used for drill permitting the Tomichi and Mocoa porphyry copper deposits and general working capital purposes.
About Libero Copper
Libero Copper is focused on acquiring high-quality copper deposits in the Americas with significant resources but without any fatal flaws or significant holding costs. These assets are being advanced and de-risked by a seasoned team to minimize dilution and maximize shareholder value. The portfolio currently includes the Tomichi deposit in the United States which contains an inferred mineral resource of 711 million tonnes at a grade of 0.33% copper equivalent and the Mocoa deposit in Colombia which contains an inferred resource of 636 million tonnes at a grade of 0.45% copper equivalent. In total the properties contain 7.9 billion pounds of copper and 1.1 billion pounds of molybdenum.
The securities offered have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy securities in the United States, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.
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. 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. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state laws.