Canadian Mining Company Libero Copper Closes on $2.9 Million CAD in Financing

Canadian mining company Libero Copper & Gold Corporation (TSXV: LBC) recently announced that it has closed on financing of $2.86 million CAD in a strategic investment involving Frank Giustra, a Canadian businessman with long-term experience in the industry.

The funds will be used for working capital and general corporate purposes, according to Libero Copper, which noted that “certain insiders of the company participated in the Private Placement and acquired an aggregate of 1,240,000 units.”

Characterized as a non-brokered private placement, the Vancouver-based miner issued a total of 11,000,000 units at a price of $0.26 CAD per unit, which consist of one common share and a warrant (with an exercise price of $0.50 CAD until March 11, 2027).

“We are thrilled to welcome Mr. Frank Giustra as a strategic investor in Libero Copper,” aid Ian Harris, president & CEO of Libero Copper, in the announcement.

“Mr. Giustra’s esteemed reputation and successful track record as a mining entrepreneur precede him. His profound understanding of industry dynamics and the imperative of meeting the growing demand for copper in the transition to a clean energy future attest to the immense potential of our company. His support will be invaluable in unlocking the full potential of the Mocoa copper-molybdenum porphyry deposit.”

In Colombia, the company is currently exploring the Mocoa copper-molybdenum porphyry deposit in the department of Putumayo, Colombia.

“Mocoa is being advanced by a highly disciplined and seasoned professional team with successful track records of discovery, resource development, and permitting in Colombia,” according to Libero Copper.

(Photo credit: Libero Copper & Gold)