Liberty Gold Announces C$30 million Bought Deal
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News Release 22-06 March 7, 2022
NOT FOR DISTRIBUTION TO UNITED STATES NEWS WIRE SERVICES OR FOR DISSEMINATION IN
THE UNITED STATES
Liberty Gold Announces C$30 million Bought Deal
VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD) (“Liberty Gold” or the “Company”) is pleased
to announce that it has entered into an agreement with National Bank Financial Inc. and BMO
Capital Markets to act as lead underwriters (the “Lead Underwriters”), on their own behalf and, if
applicable, on behalf of a syndicate of underwriters (collectively with the Lead Underwriters, the
"Underwriters"), pursuant to which the Underwriters have agreed to purchase on a bought -deal
basis 27,273,000 common shares of the Company (the “Common Shares”), at a price of C$ 1.10
per Common Share, for gross proceeds of C$30,000,300 (the “Offering”)
In addition, Liberty Gold has granted the Underwriters an option (the “ Over-Allotment Option”),
exercisable at any time, in whole or in part, until the date that is 30 days following the closing of
the financing, to purchase up to an additional 15% of the number of Common Shares solely to
cover overallotments, if any, and for market stabilization purposes.
The net proceeds of the Offering will be used to fund exploration and development of Liberty
Gold’s Black Pine and Goldstrike oxide gold development assets in the Great Basin, USA. Liberty
Gold plans to aggressively advance Black Pine in 2022 with 85,000 meters of drilling, engineering
and permitting programs and further de -risking activities. At Goldstrike, a 25,000-meter drill
program, engineering, de-risking, permitting and baseline studies are planned for 2022 to continue
advancing the asset towards a pre-feasibility study decision.
Liberty Gold intends to file with the securities commissions and other similar regulatory authorities
in the provinces of Canada, other than Quebec, a preliminary short -form prospectus relating to
the issuance of the Common Shares by March 11, 2022.
The Offering is scheduled to close on or about March 25, 2022, and is subject to a number of
conditions including, but not limited to, receipt of all necessary approvals including the approval
of the Toronto Stock Exchange and applicable securities regulatory authorities.
THIS NEWS RELEASE IS NOT AN OFFER OF SECURITIES FOR SALE AND IS NOT AN OFFER TO
SELL OR SOLICITATION OF AN OFFER TO BUY ANY SECURITIES OF LIBERTY GOLD, NOR
SHALL IT FORM THE BASIS OF, OR BE RELIED UPON IN CONNECTION WITH ANY CONTRACT
FOR PURCHASE OR SUBSCRIPTION. THE COMMON SHARES OF LIBERTY GOLD WILL ONLY
BE OFFERED IN ALL PROVINCES OF CANADA BY MEANS OF THE PROSPECTUS REFERRED
TO ABOVE. THESE SECURITIES HAVE NOT BEEN REGISTERED UNDER THE UNITED STATES
SECURITIES ACT OF 1933, AS AMENDED (THE “U.S. SECURITIES ACT”), OR APPLICABLE STATE
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SECURITIES LAWS, AND THESE SECURITIES MAY NOT BE OFFERED OR SOLD TO, OR FOR
THE ACCOUNT OR BENEFIT OF, PERSONS IN THE UNITED STATES OR “U.S. PERSONS” (AS
SUCH TERM IS DEFINED IN REGULAT ION S PROMULGATED UNDER THE U.S. SECURITIES
ACT), ABSENT REGISTRATION UNDER THE U.S. SECURITIES ACT AND APPLICABLE STATE
SECURITIES LAWS OR AN EXEMPTION FROM REGISTRATION THEREUNDER.
ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring the Great Basin of the United States, home to large-scale gold
projects that are ideal for open-pit mining. This region is one of the most prolific gold-producing
regions in the world and stretches across Nevada and into Idaho and Utah. We know the Great
Basin and are driven to discover and advance big gold deposits that can be mined profitably in
open-pit scenarios. Our flagship projects are Black Pine in Idaho and Goldstrike in Utah, both past-
producing open-pit mines, where previous operators only scratched the surface.
For more information, visit libertygold.ca or contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
All statements in this press release, other than statements of historical fact, are "forward -looking information" with respect to
Liberty Gold within the meaning of applicable securities laws, including statements that address potential quantity and/or grade
of minerals. Forward-looking information is often, but not always, identified by the use of words such as "seek", "anticipate",
"plan", "continue", "planned", "expect", "project", "predict", "potential", "targeting", "intends", "believe", "potential", and similar
expressions, or describes a "goal", or variation of such words and phrases or state that certain actions, events or results "may",
"should", "could", "would", "might" or "will" be tak en, occur or be achieved. Forward -looking information is not a guarantee of
future performance and is based upon a number of estimates and assumptions of management at the date the statements are
made including, among others, assumptions about future price s of gold, and other metal prices, currency exchange rates and
interest rates, favourable operating conditions, political stability, obtaining governmental approvals and financing on time,
obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in
market conditions, the impact from the pandemic of the novel coronavirus (COVID -19), availability of equipment, the
availability of drill rigs, the timing of the publication of any updated reso urces, preliminary economic assessments or pre -
feasibility studies, successful resolution of disputes and anticipated costs and expenditures. Many assumptions are based on
factors and events that are not within the control of Liberty Gold and there is no assurance they will prove to be correct.
Such forward-looking information, involves known and unknown risks, which may cause the actual results to be materially
different from any future results expressed or implied by such forward -looking information, inc luding, risks related to the
interpretation of results and/or the reliance on technical information provided by third parties as related to the Company’s
mineral property interests; changes in project parameters as plans continue to be refined; current economic conditions; future
prices of commodities; possible variations in grade or recovery rates; the costs and timing of the development of new deposits;
failure of equipment or processes to operate as anticipated; the failure of contracted parties to perform; the timing and success
of exploration activities generally; delays in permitting; possible claims against the Company; labour disputes and other risks
of the mining industry, including impacts from the pandemic of the novel coronavirus (COVID-19); the timing of the publication
of any updated resources, any preliminary economic assessments or pre -feasibility studies, successful, delays in obtaining
governmental approvals, financing or in the completion of exploration as well as those factors discussed i n the Annual
Information Form of the Company dated March 26, 202 1 in the section entitled "Risk Factors", under Liberty Gold’s SEDAR
profile at www.sedar.com.
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Although Liberty Gold has attempted to identify important f actors that could cause actual actions, events or results to differ
materially from those described in forward-looking information, there may be other factors that cause actions, events or results
not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate as
actual results and future events could differ materially from those anticipated in such statements. Liberty Gold disclaims an y
intention or obligation to update or revise any forward -looking information, whether as a result of new information, future
events or otherwise.