Northwire Canada EditionThursday, August 27, 2026
Sign inSubscribe
Northwire
⌕
GOLD 4649.00 −0.1% SILVER 69.47 +0.9% COPPER 6.57 −2.0% OIL 82.22 −0.0% PALLADIUM 1322.25 −1.4% GAL 0.680 +3.0% WM 0.105 +0.0% CBI 0.095 +5.6% MJS 0.105 +0.0% BEM 0.100 +0.0% HMR 0.470 +1.1% BOL 0.075 +7.1% WGF 0.160 +0.0% JUGR 1.40 −0.7% ELEC 0.140 +16.7% SAGA 0.485 +2.1% CGNT 1.29 −0.8% ABRA 16.72 +4.1% KLD 2.46 +1.2% FMAN 0.380 +0.0% OBUL 0.490 +1.0% GOLD 4649.00 −0.1% SILVER 69.47 +0.9% COPPER 6.57 −2.0% OIL 82.22 −0.0% PALLADIUM 1322.25 −1.4% GAL 0.680 +3.0% WM 0.105 +0.0% CBI 0.095 +5.6% MJS 0.105 +0.0% BEM 0.100 +0.0% HMR 0.470 +1.1% BOL 0.075 +7.1% WGF 0.160 +0.0% JUGR 1.40 −0.7% ELEC 0.140 +16.7% SAGA 0.485 +2.1% CGNT 1.29 −0.8% ABRA 16.72 +4.1% KLD 2.46 +1.2% FMAN 0.380 +0.0% OBUL 0.490 +1.0%
M&A / Property

Colibri Completes Sale of 49% Interest in Pilar for C$3.6 Million Plus 1% NSR

By The Northwire Desk — AI Analysis Aug 27, 2026 · 09:56 CBI · 0.09 Colibri Resource Corporation
CBI · Price

Colibri Resource Corporation has completed the sale of its 49% interest in the Pilar Gold Project in Sonora, Mexico, to Tocvan Ventures Corp. The transaction provides total cash consideration of C$3.6 million, with C$2.0 million received at closing and C$1.6 million due on the first anniversary. Colibri retains a 1.0% Net Smelter Return (NSR) royalty on the project, which Tocvan may repurchase for C$1.0 million at any time. The proceeds are intended to strengthen the balance sheet and advance the Company's wholly-owned EP Gold Project.

The transaction involves the sale of the 49% interest in the Pilar Gold Project to Tocvan Ventures Corp. (CSE: TOC). The financial consideration includes a total cash amount of C$3.6 million, comprising an upfront payment of C$2.0 million received at closing and a deferred payment of C$1.6 million payable on or before the first anniversary of closing. Regarding royalty terms, Colibri retains a 1.0% Net Smelter Return (NSR) royalty on the Pilar Gold Project, and Tocvan has the option to repurchase the NSR at any time for C$1.0 million.

The use of proceeds will focus on strengthening the balance sheet, providing working capital, advancing exploration at the wholly-owned EP Gold Project, and evaluating additional strategic opportunities in Sonora, Mexico. The strategic impact of the transaction is expected to materially improve Colibri's financial position, allowing the Company to focus on its 100%-owned EP Gold Project while retaining long-term upside via the royalty. The transaction is subject to final acceptance by the TSX Venture Exchange.

Ian McGavney, President and CEO, stated, "The successful completion of this transaction marks an important milestone for Colibri. We believe the transaction delivers significant value to our shareholders through the non-dilutive monetization of our interest in the Pilar Gold Project while retaining long-term upside through the retained royalty." He added, "The proceeds materially strengthen our financial position and provide the flexibility to advance our wholly-owned EP Gold Project while continuing to evaluate additional value-enhancing opportunities in Sonora."

Read the original news release →

More from Colibri Resource Corporation

Jul 09, 2026 · 19:38

Colibri sells its Pilar stake for cash exceeding its market cap while retaining royalty upside.

M&A / Property Jun 15, 2026 · 20:55

Colibri Resource cuts non-core assets to fund Sonora drilling as its cash pile nears zero.

M&A / Property Jun 15, 2026 · 15:31

Colibri acquires the Diamante project and divests Jackie, a portfolio shift driven by cash burn that necessitates a near-term capital raise.

M&A / Property Jun 05, 2026 · 16:28

Colibri halts drilling at the Jackie project as cash reserves dwindle, leaving its debt obligations and future exploration plans in limbo.

M&A / Property May 05, 2026 · 12:10

Colibri Resource Corp.

M&A / Property Mar 13, 2026 · 09:48

Colibri hits shallow gold at Plomo as balance sheet cleanup paves way for 2026 exploration push

Drill Results