Colibri Upsizes Fully Subscribed Unit Offering; Will Conduct Closing in Two Tranches

On October 28, 2025, Colibri Resource Corporation announced it has upsized its previously announced non-brokered private placement of units due to strong investor demand. The offering is now for up to 10,000,000 units at a price of C$0.15 per unit, for gross proceeds of up to C$1,500,000. Each unit consists of one common share and one common share purchase warrant, with each warrant exercisable at C$0.25 for 24 months. The company expects to close the offering in two tranches, with the first closing by the end of October and the second by mid-November.

This news is a routine and positive confirmation of the company's recent financing efforts. While an upsizing indicates healthy investor demand, it is an incremental update to a financing plan that has been evolving throughout October 2025.

The true material impact lies in the successful execution of this financing as a whole, rather than this specific upsizing announcement. Reviewing the historical context, Colibri was in a precarious financial position. As of June 30, 2025, the company had only C$22,596 in cash against over C$1.8 million in total liabilities, including significant current debt. An attempt to restructure maturing debentures in July was abandoned in August in favour of a "comprehensive financing plan."

This series of October financing announcements is that plan. The ability to raise C$1.5 million in equity, alongside a planned US$250,000 convertible debenture, is a critical lifeline. It provides the necessary capital to avoid insolvency, clean up parts of the balance sheet, and fund the planned drill program at its 100%-owned EP Gold Project.

Therefore, the upsizing is positive as it strengthens the company's treasury more than initially planned and signals market confidence. However, it does not fundamentally change the investment thesis on its own. The company has secured necessary funds at the cost of significant dilution (10 million new shares on a base of ~23 million). The success of this capital now hinges entirely on exploration results.

Colibri Resource Corporation is a Canadian junior exploration company focused on gold and silver projects in Sonora, Mexico. The company's portfolio is centered on two main projects: 1. Pilar Gold & Silver Project (49% interest): Operated by 51% partner Tocvan Ventures, Pilar is the company's most advanced asset. It is a shallow, oxidized gold system that has seen extensive drilling. The partners are advancing the project toward a 50,000-tonne bulk sample/test mine, with the goal of demonstrating its potential as a near-term, low-cost producer. 2. EP Gold Project (100% interest): Located in the Caborca Gold Belt, which hosts major gold mines, EP is an earlier-stage exploration project. The company has identified ten high-priority targets, of which only three have been drill-tested. Funds from the current financing are earmarked for a new drill program at this project.

The company also holds interests in the Diamante and Jackie projects. All properties are royalty-free at present, though some future royalties are embedded in option agreements.