Calibre Mining Announces Completion of Loans from Directors
September 05 2018 - 9:00AM
Calibre Mining Corp. (TSX-V: CXB) (the “
Company”
or “
Calibre”) announces completion of loans for
$400,000 (“
Loans”) from several directors (the
“
Lenders”) of the Company. The Loans will bear an
annual interest of 7.0% and will be payable in cash every quarter.
The term of the Loans is 18 months from the closing date or March
4, 2020 (“
Maturity Date”) and the Loans will be
due in full on the Maturity Date. The Company may prepay the Loans,
in whole or in part, at any time prior to the Maturity Date.
The Company issued 1,333,333 common shares at a
deemed price of $0.06 per common share to the Lenders as Bonus
Shares. All Bonus Shares issued pursuant to the Loans are subject
to a hold period expiring four months and a day following the date
of issue.
The Company will use the proceeds of the Loans
for general working capital purposes.
As insiders of the Company have participated in
the Loans and have received Bonus Shares, the issuance of such
Bonus Shares to the insiders (the “Insider
Participation”) is considered to be a related party
transaction within the meaning of TSX Venture Exchange Policy 5.9
and Multilateral Instrument 61-101 – Protection of Minority
Security Holders in Special Transactions (“MI
61-101”). The Company has relied on the exemptions from
the valuation and minority shareholder approval requirements of MI
61-101 contained in Sections 5.5(b) and 5.7(1)(a) of MI 61-101 in
respect of the Insider Participation.
All dollar figures in this press release are in
Canadian currency.
About Calibre Mining
Corp.Calibre owns a 100% interest in over
413 km2 of mineral concessions in the Mining Triangle of Northeast
Nicaragua including the Primavera Gold-Copper Project and Santa
Maria Gold Project. Additionally, the Company has a Joint Venture
with IAMGOLD (176 km2) and optioned to Centerra Gold (253 km2)
concessions covering an aggregate area of 429 km2 and is party to a
joint venture on the 33.6 km2 Rosita D gold-copper-silver project
with Rosita Mining Corporation. Major shareholders of Calibre
include gold producer B2Gold Corp, Pierre Lassonde and
management.
Calibre Mining Corp.
“Greg Smith”
Greg Smith,
P.Geo.President and CEO
For further information contact:Ryan King604
628-1012www.calibremining.com
Neither the 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.
Cautionary Note Regarding Forward
Looking Statements
This news release contains certain
forward-looking statements. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
“expects” or “does not expect”, “is expected”, “anticipates” or
“does not anticipate” “plans”, “estimates” or “intends” or stating
that certain actions, events or results “ may”, “could”, “would”,
“might” or “will” be taken, occur or be achieved) are not
statements of historical fact and may be “forward-looking
statements”. Forward-looking statements are subject to a variety of
risks and uncertainties which could cause actual events or results
to materially differ from those reflected in the forward-looking
statements.
Safe Harbor Statement under the United
States Private Securities Litigation Reform Act of 1995: Except for
the statements of historical fact contained herein, the information
presented constitutes “forward-looking statements” within the
meaning of the Private Securities Litigation Reform Act of 1995.
Such forward-looking statements including but not limited to those
with respect to the price of gold, potential mineralization,
reserve and resource determination, exploration results, and future
plans and objectives of the Company involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievement of Calibre to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements. There can
be no assurance that such statements will prove to be accurate as
actual results and future events could differ materially from those
anticipated in such statements. Accordingly, readers should not
place undue reliance on forward-looking statements.
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