/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
WIRE SERVICES/
VANCOUVER, BC, July 17,
2023 /CNW/ - Libero
Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF)
(DE: 29H) is pleased to announce a non-brokered private
placement (the "Offering") for the sale of up to 40,000,000
units (the "Units") at a price of C$0.05 per Unit for gross proceeds of up to
C$2,000,000. Each Unit will be
comprised of one common share (each, a "Unit Share") and one
common share purchase warrant (each, a "Warrant"). Each
Warrant will entitle the holder thereof to purchase one common
share (each, a "Warrant Share") at a price of C$0.075 for a period of 36 months following the
closing date of the Offering.
It is anticipated that the directors of Libero Copper will subscribe for Units in the
Offering. The subscription of Units to insiders pursuant to the
Offering is considered a related party transaction for purposes of
Multilateral Instrument 61-101 – Protection of Minority
Shareholders in Special Transactions ("MI 61-101").
Libero intends to rely on exemptions from the formal valuation and
minority shareholder approval requirements provided under sections
5.5(a) and 5.7(a) of MI 61-101 in respect of such insider
participation, based on the determination that fair market value of
the participation in the Offering by insiders will not exceed 25%
of the market capitalization of Libero
Copper, as determined in accordance with MI 61-101.
The net proceeds from the sale of Units will be used for
exploration of Libero Copper's
projects, including the Esperanza project in San Juan, Argentina and the Mocoa deposit in Putumayo,
Colombia, and for working capital
and general corporate purposes. Finder's fees of up to 6% cash and
broker warrants will be payable on certain portions of the Offering
in accordance with the policies of the TSX Venture Exchange.
The closing of the Offering is expected to occur on or about
July 28, 2023 and is subject to
receipt of all necessary regulatory approvals including the TSX
Venture Exchange. The Unit Shares, Warrant Shares and any common
shares that are issuable from any finder's warrants will be subject
to a hold period of four months and one day in accordance with
applicable securities laws.
None of the securities sold in connection with the Offering will
be registered under the United States Securities Act of 1933, as
amended, and no such securities may be offered or sold in
the United States absent
registration or an applicable exemption from the registration
requirements. This news release shall not constitute an offer to
sell or the solicitation of an offer to buy nor shall there be any
sale of the securities in any jurisdiction in which such offer,
solicitation or sale would be unlawful.
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.
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. This news release includes
forward-looking statements that are subject to risks and
uncertainties. All statements within, other than statements of
historical fact, are to be considered forward looking.
Although Libero Copper believes the expectations expressed in
such forward-looking statements are based on reasonable
assumptions, such statements are not guarantees of future
performance and actual results or developments may differ
materially from those in forward-looking statements. Factors that
could cause actual results to differ materially from those in
forward-looking statements include market prices, exploitation and
exploration successes, continued availability of capital and
financing, and general economic, market or business conditions and
regulatory and administrative approvals, processes and filing
requirements. There can be no assurances that such statements will
prove accurate and, therefore, readers are advised to rely on their
own evaluation of such uncertainties. The forward-looking
information contained herein is expressly qualified in its entirety
by this cautionary statement. Forward-looking information reflects
management's current beliefs and is based on information currently
available to Libero Copper. The
forward-looking information is stated as of the date of this news
release and Libero Copper assumes no
obligation to update or revise such information to reflect new
events or circumstances, except as may be required by applicable
law.
SOURCE Libero Copper & Gold
Corporation.