The Prospector News

LIBERO COPPER UPSIZES FINANCING TO $4.5 MILLION AND ANNOUNCES CLOSING OF FIRST TRANCHE FLOW-THROUGH PRIVATE PLACEMENT

You have opened a direct link to the current edition PDF

Open PDF Close
Uncategorized

Share this news article

LIBERO COPPER UPSIZES FINANCING TO $4.5 MILLION AND ANNOUNCES CLOSING OF FIRST TRANCHE FLOW-THROUGH 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 previously announced non-brokered private placement consisting of 8,276,670 flow-through common shares at a price of $0.33 per share for aggregate gross proceeds of approximately $2.7 million. The net proceeds will be used for exploration at the Big Red porphyry copper project.

 

Libero Copper intends to close the final tranche of the Offering for approximately $1.8 million on or around August 4, 2022. Closing of the Offering is subject to approval of the TSX Venture Exchange. Existing insider, Anglo Asian Mining Plc, will invest in common shares in the final tranche of the Offering to maintain its 19.9% interest in Libero Copper.

 

Some common shares issued under the Offering qualify as ‘flow through shares’. The gross proceeds from the Flow Through Shares issued under the Offering will be used to incur ‘Canadian exploration expenses’ that will qualify as ‘flow through mining expenditures’ as those terms are defined in the Income Tax Act (Canada) which will be renounced to the initial purchasers of the Flow Through Shares.

 

A Finder’s Fee of 6% in cash will be paid on a portion of the Offering in accordance with the policies of the TSX Venture exchange. Eventus Capital Corp. and Red Cloud Securities Inc. 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 July 29, 2022

Share this news article

MORE or "UNCATEGORIZED"


URANIUM ENERGY CORP ANNOUNCES THE CLOSING OF $203 MILLION PUBLIC OFFERING

Proceeds to be Used to Accelerate the Development of the United ... READ MORE

October 6, 2025

Barrick Announces Sale of Interest in Tongon for Up To $305 Million

Barrick Mining Corporation (NYSE:B) (TSX:ABX) announced that it h... READ MORE

October 6, 2025

Aquitaine Metals Drills Broad High-Grade Gold Mineralization: 16.45 g/t gold over 20.00 metres at Limousin Project

Aquitaine Metals Corp. is pleased to announce the first drill res... READ MORE

October 6, 2025

B2Gold Achieves Commercial Production at the Goose Mine

B2Gold Corp. (TSX: BTO, NYSE AMERICAN: BTG, NSX: B2G) is pleased to announce th... READ MORE

October 6, 2025

Osisko Development Provides Infill Drilling Update on Its 13,000-Meter Lowhee Program at Cariboo Gold Project; Intercepts Include 45.24 G/T Gold Over 3.0 Meters, Including 233.92 G/T Gold Over 0.5 Meters

HIGHLIGHTS 2,279 m of infill drilling completed on 10-m dr... READ MORE

October 6, 2025

Copyright 2025 The Prospector News