02:41 PM EDT, 10/16/2025 (MT Newswires) -- Colibri Resource ( CRUCF ) was at last look down 8.5% in Thursday afternoon trade after providing an update on the status of its non-brokered private placements of equity units and convertible debenture units, saying it is increasing the size of the offering from around 8.66 million units to 11.5 million units, priced at $0.15 each.

A statement noted each unit will be made up of one share and one common share purchase warrant, each share purchase warrant entitling a holder to buy one common share at a price of $0.25 per share for a period of 24 months.

The company also said that it has narrowed its selection to two drilling contractors for the upcoming program at its EP Gold Project and that it expects to finalize an agreement this week.

The upcoming drill program is expected to be fully financed, based on closing of the equity unit offering.

"Management anticipates closing the book to new subscriptions in the near term, with closing to follow promptly thereafter, subject to the acceptance of the TSX Venture Exchange," said the company.

A statement noted that certain insiders of the company may acquire units in the offering.

The company added that all other terms of the offering remain as previously announced on Oct. 6.

"The strong participation from both new investors and long-term supporters underscores growing confidence in Colibri's direction," said Colibri Resource's ( CRUCF ) President and Chief Executive Officer, Ian McGavney. "These funds will position us to advance exploration at the EP Gold Project and Pilar while strengthening our balance sheet and maintaining momentum toward our next milestones."

The company's shares were last seen down $0.015 to $0.16 on the TSX Venture Exchange.

Price: 0.16, Change: -0.02, Percent Change: -8.57