VANCOUVER, British Columbia, June 15, 2018 (GLOBE NEWSWIRE) — Libero Copper Corporation (TSX-V:LBC) (OTCQB:LBCMF) is pleased to announce that the transaction announced on May 9 to acquire 100% of the Mocoa porphyry copper-molybdenum deposit in Colombia from B2Gold Corp. (‘B2Gold’) has closed. Libero Copper has issued 10,400,000 common shares (the “Shares”) to B2Gold comprising a 19% stake in Libero Copper and granted B2Gold a right to participate in future equity financings to maintain its then current stake. B2Gold has retained a 2% net smelter returns royalty on the project and granted Libero Copper a right of first refusal on a sale of the royalty. The Shares are subject to a hold period of four months and one day.
The technical report in respect of the Mocoa deposit entitled “Mocoa Copper-Molybdenum Project, Colombia, NI 43-101 Technical Report”, dated effective October 6, 2016 can be found on Libero Copper’s website and under its profile at www.sedar.com.
About Libero Copper Corporation
Libero Copper is focused on acquiring high-quality copper deposits in the Americas with significant resources but without any fatal flaws or significant holding costs. These assets will be advanced and de-risked by a seasoned team to minimize dilution and maximize shareholder value. The portfolio currently includes the Tomichi deposit in the United States which contains an inferred mineral resource of 711 million tonnes at a grade of 0.33% copper equivalent and the Mocoa deposit in Colombia which contains an inferred resource of 636 million tonnes at a grade of 0.45% copper equivalent. In total the properties contain 7.9 billion pounds of copper and 1.1 billion pounds of molybdenum.
Neither the 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.
This news release includes forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions and regulatory and administrative approvals, processes and filing requirements. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements. This news release does not constitute an offer to sell or a solicitation of an offer to sell any securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state laws.