Colibri Announces Closing of First Tranche of Its Over-subscribed Non-Brokered Offering and Engages CANMEX for Drilling at EP Gold Project

On November 3, 2025, Colibri Resource Corporation announced the closing of the first tranche of its over-subscribed non-brokered private placement. The company raised gross proceeds of C$1,350,722 by issuing 9,004,816 units at C$0.15 per unit. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable to purchase one additional common share at C$0.25 for 24 months.

In connection with this tranche, the company paid C$71,504 in cash fees and issued 476,693 finder's warrants with the same terms.

Concurrently, Colibri announced it has engaged CANMEX Perforaciones y Servicios to conduct the next phase of drilling at its 100%-owned EP Gold Project in Sonora, Mexico.

This news is materially positive for Colibri. The successful closing of this C$1.35 million first tranche is critical as it resolves the company's severe short-term liquidity crisis. The most recent financial statements from June 30, 2025, revealed a dire financial position with only C$22,596 in cash against over C$1.9 million in total liabilities, including maturing debentures. This financing was essential for the company's survival.

The progression of news over the last several months illustrates the significance of this event: - July/August 2025: The company attempted, then abruptly canceled, amendments to maturing debentures and warrants, signaling significant financial distress and an inability to meet obligations. - October 2025: A new, comprehensive financing plan was announced at C$0.15 per unit. The offering was subsequently increased twice due to what the company described as "strong investor demand." - November 3, 2025: The closing of the first tranche confirms this demand and provides the company with a clean balance sheet and a runway to execute its exploration plans. The term "over-subscribed" is a strong positive signal of market confidence.

The simultaneous engagement of a drilling contractor for the EP Gold Project demonstrates that management is immediately deploying the new capital toward its stated use of proceeds. This shifts the company's narrative from financial survival to exploration and potential value creation. While this is a standard operational step for an exploration company, for Colibri, it marks a significant positive inflection point after a period of extreme financial uncertainty.

Colibri Resource Corporation is a Canadian junior exploration company focused on acquiring and developing prospective gold and silver properties in Sonora, Mexico. The company's portfolio consists of two main projects: 1. EP Gold Project (100% owned): This is the company's flagship exploration project, located in the Caborca Gold Belt, a prolific mining district that hosts major deposits like Fresnillo's La Herradura mine. Colibri has identified multiple targets and plans to conduct its next drill program here. The property is royalty-free. 2. Pilar Gold & Silver Project (49% interest): This is a joint venture with Tocvan Ventures (51% and operator). Pilar is a more advanced-stage project with significant drilling completed and positive metallurgical work. The project is advancing towards a 50,000-tonne bulk sample/test mine, which could provide near-term cash flow. Colibri retains a 2% NSR on the Pilar property if Tocvan acquires the remaining 49% interest.