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LIBERO COPPER ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

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LIBERO COPPER ANNOUNCES CLOSING OF FIRST TRANCHE OF PRIVATE PLACEMENT

 

 

 

 

 

Libero Copper & Gold Corporation (TSX-V: LBC) (OTCQB: LBCMF) (DE: 29H) is pleased to announce that it has closed the first tranche of its non-brokered private placement consisting of 6,747,000 units, with each Unit consisting of one common share and one share purchase warrant at a price of $0.15 per Unit for aggregate gross proceeds of approximately $1 million. Each Warrant shall entitle the holder thereof to acquire one additional Share at a price of $0.22 until expiry on December 30, 2024. The net proceeds will be used for exploration at the Mocoa and Esperanza porphyry copper projects and general working capital.

 

Existing strategic investor, Anglo Asian Mining Plc, will invest in the final tranche of the Offering to maintain their 19.9% interest in Libero Copper. Ian Slater, Chairman, participated in the Offering for 1,000,000 Units which will be subject to a four month hold period ending May 1, 2023 pursuant to applicable policies of the TSX Venture exchange.

 

A Finder’s Fee of $53,325 in cash and 355,500 non-transferrable broker warrants, with each broker warrant exercisable for one common share at $0.22 until December 30, 2024 will be paid on a portion of the Offering, subject to approval and in accordance with the policies of the TSX Venture exchange. Red Cloud Securities Inc., Canaccord Genuity Corp., Haywood Securities Inc., and Blue Lakes Advisors SA are each acting as a finder in connection with the Offering.

 

The issuance of common shares to Anglo Asian Mining Plc will be considered a “related party transaction” within the meaning of Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions. Libero Copper is relying on exemptions from the formal valuation requirements of MI 61-101 pursuant to section 5.5(a) and the minority shareholder approval requirements of MI 61-101 pursuant to section 5.7(1)(a) in respect of such insider participation as the fair market value of the transaction, insofar as it involves interested parties, does not exceed 25% of the Libero Copper’s market capitalization.

 

About Libero Copper & Gold

 

Libero Copper is unlocking the value of a collection of porphyry copper deposits throughout the Americas in prolific and stable jurisdictions. The portfolio includes the Mocoa deposit in Putumayo, Colombia; Esperanza in San Juan, Argentina; and Big Red and Big Bulk in the Golden Triangle, BC, Canada. These assets are being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in the Americas.

 

Posted January 2, 2023

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