|Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the "Company" or "Calibre") is pleased to announce that the Company has closed its non-brokered private placement financing previously announced on April 11, 2016 for gross proceeds of $3,000,000 (the "Private Placement").
The proceeds of the Private Placement will be used to advance the exploration and development of the Company's 100% owned projects in Nicaragua including:
Pursuant to the Private Placement the Company issued 30,000,000 units ("Units") at a price of $0.10 per Unit. Each Unit consists of one common share and one common share purchase warrant with each warrant entitling the holder to acquire an additional common share for $0.16 for a period of 24 months from the closing date. Calibre paid finder's fees totalling $119,400 in cash and issued 1,194,000 finder's warrants ("Finder's Warrants") in connection with the entire non-brokered private placement. Each Finder's Warrant entitles the holder to acquire a common share of the Company for $0.16 for a period of 24 months from the closing date. All securities issued under the Private Placement are subject to a hold period expiring August 21, 2016.
About Calibre Mining Corp.
Calibre controls a 100% interest in over 580 km2 of mineral concessions in the Mining Triangle of Northeast Nicaragua. Additionally the Company has an option agreement with IAMGOLD covering 176 km2 of concessions, an option agreement with Centerra Gold on 12 km2 , joint venture exploration programs underway with B2Gold Corp. on 66 km2 of concessions which includes the Primavera gold-copper porphyry discovery and the Monte Carmelo Zone, and 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, P.Geo.
President and CEO
For further information contact:
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 Atlas 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.