The Prospector News

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

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

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

 

 

 

 

 

Colibri Resource Corporation (TSX-V: CBI) is pleased to announce the successful completion of the transaction previously announced on July 9, 2026, pursuant to which the Company has sold its 49% interest in the Pilar Gold Project, located in Sonora, Mexico, to Tocvan Ventures Corp. (CSE: TOC).

 

Under the terms of the transaction, Colibri received C$2.0 million at closing and will receive an additional C$1.6 million on or before the first anniversary of closing. Colibri has also retained a 1.0% Net Smelter Return Royalty on the Pilar Gold Project. Tocvan may repurchase the NSR at any time for C$1.0 million.

 

The transaction represents total cash consideration of C$3.6 million while allowing Colibri to retain long-term exposure to the Pilar Gold Project through the retained royalty. The transaction materially improves the Company’s financial position and positions Colibri to focus on advancing its wholly-owned EP Gold Project while continuing to evaluate additional growth opportunities in Sonora, Mexico.

 

Ian McGavney, President and Chief Executive Officer of Colibri, commented:

 

“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.

 

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.”

 

The Company intends to use the proceeds from the transaction to strengthen its balance sheet, provide additional working capital, advance exploration at its wholly-owned EP Gold Project and evaluate additional strategic opportunities in Sonora, Mexico.

 

Following completion of the transaction, the Company’s principal exploration focus will be its 100%-owned EP Gold Project. In addition, the Company will continue to evaluate opportunities to enhance value across its remaining project portfolio while pursuing strategic opportunities consistent with its long-term growth strategy.

 

The transaction remains subject to final acceptance of the TSX Venture Exchange.

 

About Colibri Resource Corporation

 

Colibri Resource Corporation is a Canadian mineral exploration company focused on the acquisition, exploration and development of prospective gold projects in Mexico. The Company’s principal asset is the 100%-owned EP Gold Project located in Sonora, Mexico.

 

Posted August 27, 2026

Share this news article

MORE or "UNCATEGORIZED"


Brutus Mining Announces Closing of $3.0 Million Private Placement Financings

Brutus Mining Inc. (CSE: BRU) (FSE: ZI3) is pleased to announce that it has closed its non-brokered ... READ MORE

October 14, 2026

Jaguar Uranium Announces Maiden Mineral Resource Estimate at Laguna Salada in Argentina

Jaguar Uranium Corp. (NYSE American: JAGU) is pleased to announce an independent Mineral Resource E... READ MORE

October 14, 2026

Auro Intersects 572m Grading 0.60 g/t Gold and 0.1% Copper at the Santa Barbara Gold-Copper Project, Ecuador

Auro Metals Inc. (TSX-V: AURO) (OTCQB: AURFF), is pleased to announce the assay results of the fina... READ MORE

October 14, 2026

Endeavour Silver Restores Guanaceví Mill to Full Capacity Following Trunnion Replacement

Endeavour Silver Corp. (NYSE: EXK) (TSX: EDR) is pleased to announce that repairs to the primary bal... READ MORE

October 14, 2026

Scorpio Gold Drills 2.94 g/t Gold over 36.42 Metres from 169.62 Metres at the Goldwedge Target at Manhattan

Scorpio Gold Corp. (NASDAQ: SGLD) (TSX-V: SGLD) (OTCQB: SRCRF) (FSE: RY9) is pleased to announce re... READ MORE

October 14, 2026

Copyright 2026 The Prospector News