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Dieppe, New Brunswick--(Newsfile Corp. - June 11, 2025) - Colibri Resource Corporation (TSXV: CBI) ("Colibri" or the "Company") announces that, further to the Company's press release on May 14, 2025, Colibri has received approval of the TSX Venture Exchange (the "TSXV") for the consolidation of its issued and outstanding common shares (each, a "Share") on the basis of five (5) pre-consolidation Shares for each one (1) post-consolidation Share (the "Consolidation").
The Consolidation is being effected pursuant to a resolution of the board of directors of the Company dated May 5, 2025. No shareholder approval is required for the Consolidation to come into effect. The Company has obtained a new CUSIP (194168407) and ISIN (CA194168407) in connection with the Consolidation. There will be no name change or trading symbol change in conjunction with the Consolidation.
Effective at the opening of trading on Friday, June 13, 2025 (the "Effective Date"), the Shares will commence trading on the TSXV on a consolidated basis.
As at the date hereof, there are a total of 115,417,625 Shares issued and outstanding. Assuming no other change to the issued and outstanding Shares, a total of 23,083,525 Shares, subject to adjustments for rounding, will be issued and outstanding on the Effective Date.
No fractional post-Consolidation Shares will be issued as a result of the Consolidation. Fractional Shares will be rounded up to the next nearest whole number of Shares if the fraction is at least half of a Share and rounded down to the nearest whole number of Shares if the fraction is less than half a Share.
The exercise or conversion price, and the number of Shares issuable under any of the Company's outstanding convertible securities, if any, will be proportionately adjusted upon the Effective Date.
A letter of transmittal from the Company's transfer agent, Computershare Investor Services Inc., will be mailed to registered shareholders providing instructions on how to exchange their physical Share certificates representing pre-Consolidation Shares for new certificates representing post-Consolidation Shares.
Shareholders who hold their Shares in DRS/Book or in brokerage accounts are not required to take action to effect an exchange of their pre-Consolidation Shares for post-Consolidation Shares. Until surrendered, each Share certificate representing pre-Consolidation Shares will represent the number of whole post-Consolidation Shares to which the holder is entitled as a result of the Consolidation.
ABOUT COLIBRI RESOURCE CORPORATION
Colibri is a Canadian-based mineral exploration company listed on the TSX-V (CBI) and is focused on acquiring, exploring, and developing prospective gold & silver properties in Mexico. The Company holds four high potential precious metal projects: 1) 49% Ownership of the Pilar Gold & Silver Project which is believed to hold the potential to be a near term producing mine, 2) 100% of EP Gold Project in the significant Caborca Gold Belt which has delivered highly encouraging exploration results and is surround by Mexico's second largest major producer of gold on four sides, and 3) two highly prospective interests in the Sierra Madre (Diamante Gold & Silver Project and Jackie Gold & Silver Project.
For more information about all Company projects please visit: www.colibriresource.com.
For further information contact: Ian McGavney, President, CEO and Director, Tel: (506) 383-4274, [email protected].
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Notice Regarding Forward-Looking Statements
This news release contains "forward-looking statements". Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Actual results could differ from those projected in any forward-looking statements due to numerous factors. These forward-looking statements are made as of the date of this news release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/255230
