Libero Copper & Gold Corporation (TSXV:LBC) has closed the first tranche of its previously announced non-brokered private placement 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.
Eventus Capital Corp. and Red Cloud Securities Inc. are each acting as a finder in connection with the Offering.
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.
For further information please visit: https://www.liberocopper.com/
