Vancouver, British Columbia: Calibre Mining Corp. (TSX-V: CXB) (the “Company” or “Calibre”) is pleased to announce that it intends to sell, on a private placement basis, 25,000,000 units (“Units”) of the Company at a price of $0.08 per Unit to Pierre Lassonde for gross proceeds of $2,000,000 (the “Private Placement”). Following the closing of the Private Placement, Mr. Lassonde will hold an 11.2% equity stake in Calibre on an undiluted basis.
The Private Placement will consist of the Company issuing 25,000,000 Units at a price of $0.08 per Unit. Each Unit will consist of one common share and one-half common share purchase warrant. Each whole warrant will entitle the holder to acquire an additional common share for $0.15 for a period of 24 months from the closing date.
Douglas Forster, Chairman of Calibre stated: “Calibre is very pleased to welcome Pierre Lassonde as a significant new shareholder of the Company. Mr. Lassonde is well known in the international mining community and North American capital markets and he is currently Chairman of Franco-Nevada Corporation. Calibre is advancing the Company’s gold projects in Nicaragua in partnership with B2Gold Corp, IAMGOLD Corporation and Alder Resources Ltd. in addition to our 100% owned Siuna District gold targets including the Montes de Oro gold project”
The proceeds of the Private Placement will be used to advance the exploration and development of the Company’s 100% owned projects in Nicaragua and for general working capital purposes.
All shares issued pursuant to the private placement will be subject to a hold period expiring four months and a day following the date of issue. There are no finders’ fees payable in connection with the Private Placement.
About Calibre Mining Corp.
Calibre controls a 100% interest in 253 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, joint venture exploration programs underway with B2Gold Corp. on 322.3 km2 of concessions which includes the Primavera gold-copper porphyry discovery and the Minnesota Gold Zone, and has optioned the 33.6 km2 Rosita gold-copper-silver project to Alder Resources Ltd. Major shareholders of Calibre include gold producer B2Gold Corp.
Calibre Mining Corp.
Greg Smith, P.Geo.
President and CEO
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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.