Libero Copper & Gold Corporation (TSX-V: LBC) (OTCQB: LBCMF) (DE: 29H) announces it has closed the initial tranche of the non-brokered private placement announced February 7, 2023 and issued 6,666,667 units, with each unit consisting of one common share and one common share purchase warrant at a price of $0.15 per unit for gross proceeds of approximately $1 million. Each Warrant entitled the holder thereof to acquire one additional common share at a price of $0.22 until February 13, 2025. The net proceeds will be used for exploration at the Mocoa and Esperanza porphyry copper projects and general working capital.

Finder’s fees of 6% cash and 6% broker warrants will be paid on a portion of the Offering in accordance with the policies of the TSX Venture Exchange. Eventus Capital Corp. acted as a finder in connection with the initial tranche of the Offering and was issued broker warrants expiring February 13, 2025.

The Offering is being made to purchasers resident in all provinces of Canada (except Quebec), the United States and in certain foreign jurisdictions, pursuant to the listed issuer financing exemption under Part 5A of NI 45-106. Pursuant to the limitations of the Listed Issuer Financing Exemption, the units offered under the Listed Issuer Financing Exemption will not be subject to resale restrictions pursuant to applicable Canadian securities laws. Ian Slater, Chairman, participated in the Offering for 333,334 Units which will be subject to a four month hold period expiring on June 14, 2023 pursuant to applicable policies of the TSX Venture Exchange.

Existing strategic investor, Anglo Asian Mining Plc, will invest in up to 3,200,000 units in the final tranche to maintain their 19.9% interest in Libero Copper, which will be subject to a four month hold period, pursuant to applicable policies of the TSX Venture Exchange, and which will not be issued pursuant to the Listed Issuer Financing Exemption. 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 Libero Copper’s market capitalization.  The net proceeds raised in the final tranche will also be used for exploration at the Mocoa and Esperanza porphyry copper projects and general working capital.

Libero Copper intends to close the next tranche of the Offering of up to 6,666,667 units on or around February 15, 2023. Closing of the final tranche of the Offering with Anglo Asian Mining Plc is subject to approval of the TSX Venture Exchange.

About Libero Copper

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.