VANCOUVER, BC, Jan. 19, 2024 /CNW/ - Libero Copper & Gold Corporation (TSXV:
LBC) (OTCQB: LBCMF) ("Libero
Copper" or "the Company") announces that it
intends to consolidate the Company's common shares (the "Common
Shares") on the basis of one (1) new post-consolidation Common
Share for every ten (10) pre-consolidation Common Shares (the
"Consolidation"). The Board of Directors of Libero Copper has approved the Consolidation.
The Company is pursuing the Consolidation to make the Company's
securities more attractive to investors.
The Company currently has 174,777,174 Common Shares issued and
outstanding. Assuming no other changes in the number of Common
Shares outstanding, after giving effect to the Consolidation, and
prior to giving effect to the Offering described herein, the
Company would have approximately 17,477,717 Common Shares
outstanding.
Any fractional interest in Common Shares resulting from the
Consolidation will be rounded down to the nearest whole Common
Share. Registered shareholders will receive a letter of transmittal
from the Company's transfer agent, with information on how to
replace their old share certificates / DRS statements with the new
share certificates / DRS statements. Brokerage firms will handle
the replacement of share certificates and DRS statements on behalf
of their shareholder's accounts.
The exercise price and number of Common Shares issuable upon the
exercise of Libero Copper's
outstanding stock options and warrants will be proportionately
adjusted to reflect the Consolidation in accordance with the terms
of such securities.
Closing of the Consolidation is subject to customary closing
conditions, including the prior approval of the TSX Venture
Exchange (the "Exchange"). Libero
Copper intends to close the Consolidation as soon as
practicable following receipt of the approval from the
Exchange.
ATM
Further to the at-the-market offering of shares made pursuant to
the Prospectus Supplement dated March 22,
2023, the Company issued 13,411,000 shares and raised gross
proceeds of $280,482 pursuant to this
ATM Distribution from October 1, 2023
to December 31, 2023. Independent
Trading Group (ITG) Inc. received fees of $5,610.
Board Resignation
Bill Bennett has resigned as a
director of Libero Copper for
personal reasons. On behalf of the Board of Directors we wish him
all the best in the future. Mr. Bennet is extremely knowledgeable
and has a wealth of experience regarding government and indigenous
relations in British Colombia and
was critical to our projects located there.
About Libero Copper
Libero Copper is a mineral
exploration company which is focussed on unlocking the value of the
Mocoa copper-molybdenum porphyry deposit located in Putumayo,
Colombia. Mocoa is being advanced
by a highly disciplined and seasoned professional team with
successful track records of discovery, resource development, and
permitting in Colombia.
Libero Copper prioritizes building
strong relationships with the communities in which we operate and
is dedicated to creating long-term value for our shareholders
through responsible exploration to fuel the green energy
future.
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 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.