/NOT FOR DISSEMINATION IN THE UNITED STATES OR FOR DISTRIBUTION TO U.S.
WIRE SERVICES/
VANCOUVER, BC, Feb. 15,
2024 /CNW/ - Libero
Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF)
("Libero Copper") announces
that, further to its press release dated January 22, 2024, it has closed a non-brokered
private placement (the "Offering") for aggregate gross
proceeds of $3,000,000. The Offering
was completed post-Consolidation (as defined herein). Effective
February 13, 2024, Libero Copper consolidated its 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
net proceeds of the Offering will be used for exploration at Mocoa
and general corporate purposes.
Libero Copper issued 19,999,335
units (the "Units") at a price of $0.15 per Unit, with each Unit consisting of one
post-Consolidation Common Share, and one full common share purchase
warrant (a "Warrant") with each Warrant entitling the holder
to acquire an additional post-consolidation Common Share at an
exercise price of $0.20 per Warrant
until February 15, 2027. Common
Shares issued in the Offering as well as any Common Shares issuable
from the exercise of Warrants which were issued in the Offering,
are subject to a four month hold period expiring June 16, 2024.
Early Warning Disclosure
The Company announces that Mr. Frank
Giustra, through Fiore Aviation Corporation (a company owned
and controlled by Mr. Giustra) acquired 4,200,000 Units of the
Company pursuant to the private placement. As a result of the
acquisition of securities described above, Frank Giustra now owns and/or controls directly
and indirectly 4,200,000 Common Shares and 3,700,000 Warrants,
representing 11.21% of the issued and outstanding Common Shares of
the Company and 19.19% on a partially diluted basis. Prior to
this transaction, Mr. Giustra did not hold any securities of the
Company.
Frank Giustra and his related
entities acquired these securities for investment purposes and as
disclosed in the early warning report accompanying this news
release, may in the future acquire or dispose of securities of the
Company, through the market, privately or otherwise, as
circumstances or market conditions warrant.
This news release is being issued under the early warning
provisions of Canadian securities legislation. A copy of the early
warning report to be filed by Mr. Giustra in connection with the
transaction described above will be available under the Company's
profile on SEDAR+ at (www.sedarplus.ca).
Change to Board of
Directors
Ian Slater, Michael Sununu, Rob
Pease and Brad Rourke have
resigned from the Board of Libero
Copper effective February 15,
2024 and are replaced by Rob Van
Egmond. The Board now consists of Rob Van Egmond, Ian
Harris, Ernest Mast, and
Jay Sujir.
Bonus Warrants
Further to the Company's news release dated February 9, 2024, the Company issued on
February 15, 2024 the 750,000
non-transferable warrants (the "Bonus Warrants") expiring
February 15, 2025 with an exercise
price of $0.20 per Common Share to
Slater Capital Corporation (the "Lender") on a
post-Consolidation basis in connection with a loan agreement
between the Company and the Lender dated January 1, 2024. Any Common Shares issuable from
the exercise of Bonus Warrants are subject to a four month hold
period expiring June 16, 2024.
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, obtaining the receipt of final TSX Venture
Exchange approval, 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.