Libero Announces Private Placement

VANCOUVER, May 1, 2020 /CNW/ -A Libero Copper & Gold Corporation (TSX-V: LBC, OTCQB: LBCMF) announces a non-brokered private placement consisting of: (i) Units ("Unit") at a price of C$0.10 per Unit (the "NFT Unit Offering"); (ii) Units at a price of C$0.15 per Unit to residents of British Columbia (the "Super FT Unit Offering") and (iii) Units at a price of C$0.11 per Unit (the "FT Unit Offering" and together with the NFT Unit Offering and Super FT Unit Offering, the "Offering") for gross aggregate proceeds of up to $3 million.Each Unit consists of one Common Share ("Common Share") and one Common Share purchase Warrant ("Warrant").A  Each Warrant entitles the holder to acquire one Common Share for a period of 24 months from closing at a price of C$0.15.A  If the closing price of the Common Shares is at a price equal to or greater than $0.20 for a period of 10 consecutive trading days, Libero will have the right to accelerate the expiry date of the warrants by giving notice, via a new release, to the holders of the Warrants that the Warrants will expire on the date that is 30 days after the issuance of said news release.Common Shares issued under the Super FT Unit Offering and FT Unit Offering qualify as 'flow through shares' ("Flow Through Shares").A  The gross proceeds from the Super FT Unit Offering and FT unit 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 which will be renounced to the initial purchasers of the Flow Through Shares.The net proceeds of the Offering will be used for drilling the Ridge high grade gold target at Big Red and general working capital purposes.A  A Finder's Fee of 6% will be payable on a portion of the Offering.A  Closing of the Offering is subject to approval of the TSX Venture Exchange.A About Libero Copper & Gold
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