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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.