Credit: Shutterstock photoColibri Resource Corporation (CBI.V) has entered into an option agreement dated December 20, 2012 for the acquisition of two additional mining claims located within the Company's Ramard concessions in Sonora, Mexico. The two claims are called "Picacho" and "El Dorado", and are 60 and 64 hectares in size, respectively.
Colibri has been granted the exclusive option to acquire a 100% right, title and interest in the Claims if it makes cash payments in the aggregate amount of US$161,000 and issue a total of 80,000 of its common shares to the optionor, all over a four year period. The Company may also choose to exercise the option on only one of the Claims for a total cash payment of US$80,500 and the issuance of 40,000 common shares.
Colibri is now trading at 6.5 cents, up 1.5 cents from the close.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
