Calibre Mining (CXB-V) April 22, '16 is pleased to announce that the Company has closed its non-brokered private placement financing previously announced on April 11, 2016 for gross proceeds of $3,000,000 (the "Private Placement").
The proceeds of the Private Placement will be used to advance the exploration and development of the Company's 100% owned projects in Nicaragua including:
drilling of the high priority Santa Maria gold-silver Target within the Rosita District,
continued exploration of the Northern Siuna Project which contains the Montes de Oro Target as well as a series of "look alike" targets,
additional work on anomalous zones in the Carpatos District and the El Paste Concession,
and for general working capital purposes.
Pursuant to the Private Placement the Company issued 30,000,000 units ("Units") at a price of $0.10 per Unit. Each Unit consists of one common share and one common share purchase warrant with each warrant entitling the holder to acquire an additional common share for $0.16 for a period of 24 months from the closing date. Calibre paid finder's fees totalling $119,400 in cash and issued 1,194,000 finder's warrants ("Finder's Warrants") in connection with the entire non-brokered private placement. Each Finder's Warrant entitles the holder to acquire a common share of the Company for $0.16 for a period of 24 months from the closing date. All securities issued under the Private Placement are subject to a hold period expiring August 21, 2016.
About Calibre Mining Corp.
Calibre controls a 100% interest in over 580 km2 of mineral concessions in the Mining Triangle of Northeast Nicaragua. Additionally the Company has an option agreement with IAMGOLD covering 176 km2 of concessions, an option agreement with Centerra Gold on 12 km2, joint venture exploration programs underway with B2Gold Corp. on 66 km2 of concessions which includes the Primavera gold-copper porphyry discovery and the Monte Carmelo Zone, and a joint venture on the 33.6 km2 Rosita D gold-copper-silver project with Rosita Mining Corporation. Major shareholders of Calibre include gold producer B2Gold Corp, Pierre Lassonde and Management.
Calibre Mining Corp.
Greg Smith, P.Geo., President and CEO
Calibre Mining Corp.
Ryan King
604 628-1012
www.calibremining.com |
