Colibri Resource sells 49% Pilar stake to Tocvan for $3.6M

Colibri Resource Corp. entered into a definitive arm's‑length agreement on July 8, 2026 to sell its remaining 49% interest in the Pilar Gold & Silver Project in Sonora, Mexico to Tocvan Ventures Corp. for a total cash consideration of C$3.6 million (C$2.0 million at closing and C$1.6 million twelve months later). Colibri will retain a 1.0% net smelter return (NSR) royalty on Pilar, which Tocvan may repurchase for a one‑time payment of C$1.0 million. The transaction is subject to customary closing conditions, including Mexican transfer documentation and TSX Venture Exchange approval. Proceeds are intended to strengthen Colibri’s balance sheet, avoid shareholder dilution and fund advancement of its wholly‑owned EP Gold Project and broader exploration in Sonora. CEO Ian McGavney said the deal “represents a compelling outcome for Colibri shareholders” and provides flexibility for future development. Shares of Colibri rose about 13.6% following the announcement.