Colibri Provides Update on Drilling Activity and Grants Corporate Stock Options
TSX.V:CBI
DIEPPE, NB, April 16, 2018 /CNW/ - (CBI: TSX-V) Colibri Resource Corp. ("Colibri" or the "Company") is pleased to provide an update on its Phase 1 drilling of its 2018 drilling program on its 100% owned Pilar Project in Sonora State Mexico and announces that it has completed drilling of 5 of the approximately 30 hole drill program. To date, 266 samples have been sent to ALS labs for assaying.
The Phase 1 drill program is being managed by Colibri's Country Manager & geologist Jackie E. Stephens.
The Company also announces that it has granted a total of 3,775,000 stock options at a price of $0.10 per share as follows:
| (a) | 1,800,000 options to directors of the Company, which will vest immediately. These options expire in ten years; |
| (b) | 1,350,000 to senior officers of the Company of which 1,250,000 are subject to vesting provisions over 3 years and 100,000 will vest immediately. These options expire in 5 years; and |
| (c) | 625,000 to a consultant providing corporate finance advising services to the Company. These options expire in 5 years and are subject to vesting over a 2 year period. |
For more information about all of our projects please visit: www.colibriresource.com.
We seek safe harbour.
About Colibri Resource Corporation:
Colibri is a Canadian mineral exploration company listed on the TSX-V (CBI) focused on acquiring and exploring properties in Mexico.
The TSX Venture Exchange has neither approved nor disapproved the contents of this news release. Neither 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. The statements made in this news release may contain forward-looking statements that may involve a number of risks and uncertainties. Actual events or results could differ materially from the Company's expectations and projections.
SOURCE Colibri Resource Corp.
Contact
Ronald J. Goguen, President, Chairperson and Director, Tel: (506) 383-4274, rongoguen@colibriresource.com