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VANCOUVER, BC , Dec. 12, 2024 /CNW/ - Libero Copper & Gold Corporation (TSXV: LBC) (OTCQB: LBCMF) (DE: 29H) (" Libero " or the " Company ") is pleased to announce that it has closed its previously announced public offering (the " Offering ") of 8,571,428 units of the Company (the " Units ") at a price of $0.35 per Unit, for aggregate gross proceeds of $3,000,000 . The Offering was led by Research Capital Corporation as the sole agent and sole bookrunner (the " Agent ").
Each Unit is comprised of one common share of the Company (a " Common Share ") and of one Common Share purchase warrant of the Company (a " Warrant "). Each Warrant will entitle the holder thereof to purchase one Common Share at an exercise price of $0.50 until December 12, 2026 .
The net proceeds from the Offering will be used by the Company for the exploration of the Mocoa copper-molybdenum project, working capital and general corporate purposes.
In connection with the Offering, the Company has filed a prospectus supplement (the " Supplement ") dated December 4, 2024 to the Company's short form base shelf prospectus dated November 29, 2024 (the " Shelf Prospectus "), with the securities regulatory authorities in each of the provinces of Canada (except Quebec ). Copies of the Shelf Prospectus and the Supplement filed in connection with the Offering, can be found on SEDAR+ at www.sedarplus.ca .
The Company has granted the Agent an option (the " Over-Allotment Option ") to increase the size of the Offering by up to an additional number of Units, and/or the components thereof, that in the aggregate would be equal to approximately 15% of the total number of Units to be issued under the Offering, to cover over-allotments, if any, and for market stabilization purposes, exercisable at any time and from time to time up to 30 days following the closing of the Offering.
In connection with the Offering, the Company paid to the Agent a cash commission of $160,049.99 and issued to the Agent 457,286 broker warrants (the " Broker Warrants "). In addition, the Agent received an advisory fee of $19,000 and 57,000 advisory broker warrants on the same terms as the Broker Warrants. Each Broker Warrant entitles the holder thereof to acquire one Common Share at a price of $0.35 per Common Share until December 12 , 2026.
This press release is not an offer to sell or the solicitation of an offer to buy the securities in the United States or in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to qualification or registration under the securities laws of such jurisdiction. The securities being offered have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, and such securities may not be offered or sold within the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from U.S. registration requirements and applicable U.S. state securities laws.
About Libero Copper
Libero Copper is led by a team with rare experience—having advanced projects from post-resource discovery to the path of construction, including some of the few large copper projects built in the last 20 years. This real-world expertise drives Libero Copper's focus on relationships, responsibility, trust, and a relentless commitment to sustainable progress.
At the core of Libero Copper's portfolio is the Mocoa copper-molybdenum porphyry deposit in Putumayo, Colombia . Mocoa stands as a cornerstone asset with immense potential for expansion.
Now, with the Fiore Group's bold company-building vision behind it, Libero Copper is uniquely positioned to fill a crucial gap in the copper industry—advancing large-scale projects toward construction. Through this approach, Libero Copper is committed to creating lasting value for all stakeholders while positioning itself at the forefront of meeting the growing global demand for copper—the metal driving progress in the modern economy.
Neither the Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-looking statements
This news release contains certain statements which constitute forward-looking statements or information under applicable Canadian securities laws, including statements relating to the expected use of proceeds from the Offering. Such forward-looking statements are subject to numerous known and unknown risks, uncertainties and other factors, some of which are beyond the Company's control, which could cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. Although the Company believes that the forward-looking statements in this news release are reasonable, they are based on factors and assumptions, based on currently available information, concerning future events, which may prove to be inaccurate. As such, readers are cautioned not to place undue reliance on the forward-looking statements, as no assurance can be provided as to future plans, operations, results, levels of activity or achievements. The forward-looking statements contained in this news release are made as of the date of this news release and, except as required by applicable law, the Company does not undertake any obligation to publicly update or to revise any of the forward-looking statements, whether as a result of new information, future events or otherwise.
SOURCE Libero Copper & Gold Corporation
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