Colibri to Conduct Placement of Debenture Units

Executive Summary

• Colibri Resource Corp. announced a revised placement of up to 115 convertible debenture units for gross proceeds of up to US $115,000.
• The offering will be fully taken up by existing debenture holders (no new capital inflow), each unit comprising a US $1,000 10% unsecured convertible debenture and 5,200 common‑share purchase warrants.
• Debentures bear 10% annual interest, mature in two years, and are convertible at C$0.25 per share; warrants allow acquisition of one common share at C$0.25 for 24 months post‑closing.

Key Details

• Offering Size: Up to 115 debenture units → maximum US $115,000 gross proceeds.
• Unit Composition:
• 1 × US $1,000 principal amount 10% unsecured convertible debenture.
• 5,200 common‑share purchase warrants per unit.
• Interest Rate: 10% per annum, calculated in U.S. dollars, payable quarterly in arrears and at maturity/redemption.
• Maturity: Two (2) years from issuance date.
• Conversion Terms:
• Conversion price fixed at C$0.25 per common share.
• Fixed FX rate for conversion: C$1.30 per US $1 principal.
• Conversion may be exercised any time prior to maturity; interest cannot be converted into shares.
• Warrant Terms: Each warrant permits purchase of one common share at C$0.25, exercisable for 24 months after closing.
• Placement Participants: Existing debenture holders whose original debentures matured in August 2025; no new investors or additional cash infusion beyond the rollover of existing commitments.
• Regulatory Conditions: Placement subject to TSXV consent; securities will be subject to a statutory four‑month‑and‑one‑day hold period.
• Fees: No finder's fees payable in connection with this placement.

Notable Quotes

(No direct quotes were provided in the release.)