Liberty Gold Upsizes Non-Brokered Private Placement Financing to C$12.5 Million
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News Release 24-08 April 30, 2024
Liberty Gold Upsizes Non-Brokered Private Placement Financing
to C$12.5 Million
VANCOUVER, B.C. – Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ( “Liberty Gold ” or the
“Company”) is pleased to announce the successful upsizing of its non-brokered, private placement
financing from C$9.5 million to C$12.5 million (the “Offering”).
The terms of the Offering remain unchanged and will consist of the issuance of up to 35,715,362
units of the Company (the “Units”) at an issue price of C$0.35 per Unit. Each Unit will consist of
one common share of Liberty Gold (each, a “Common Share”) and 1/2 of a common share purchase
warrant (a “Warrant”). Each Warrant will entitle the holder to acquire one common share of Liberty
Gold at a price of C$0.45 for a period of 24 months following completion of the Offering.
The proceeds of the Offering will be used for exploration drilling on seven high- priority target
areas identified at the Black Pine Oxide Gold Project in Idaho, engineering, development, economic
studies and permitting programs for the Company's projects in the Great Basin and for general
working capital.
In line with the Liberty Gold’s commitment to efficient capital allocation, the Company confirms
that no finders or broker fees are payable in this non-brokered offering.
“This upsize reflects the response from our investors and underscores the compelling value proposition
of Liberty Gold,” stated Cal Everett, CEO and Director of Liberty Gold. “This additional capital will
further strengthen our financial position as we advance Black Pine and pursue our strategic development
objectives and our goal of building the resource to the +5 million ounce range.”
The Offering is scheduled to close on or about May 1 7, 2024, 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.
The Offering will be conducted on a private placement basis and a ll securities issued under the
Offering will be subject to a hold period which will expire four months and one day from the date
of the applicable closing of the Offering. The securities offered have not been, and will not be,
registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”)
or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for
the account or benefit of, United States persons absent registration or any applicable exemption
from the registration requirements of the U.S. Securities Act and applicable U.S. state securities
laws. This press release shall not constitute an offer to sell or the solicitation of an offer to buy
securities in the United States, nor will there be any sale of these securities in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
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ABOUT LIBERTY GOLD
Liberty Gold is focused on exploring for and developing open pit oxide deposits in 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 kn ow the Great Basin and are driven to discover and advance big
gold deposits that can be mined profitably in open-pit scenarios.
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 about the size, timing and completion
of the Offering, the use of proceeds of the offering, the timing and completion of the Preliminary Feasibility Study, the tim ing
and completion of formal mine permitting, and the potential quantity and/or grade of minerals and Liberty Gold’s mineral
resources. 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 taken, 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 futur e prices 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 obt aining required licenses and permits, labour stability, stability in
market conditions, the timing and success of future plans and objectives in the areas of sustainable development, health, safety,
environment, community development; successful resolution of disputes and anticipated costs and expenditures and the timing
of regulatory approvals. 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, including, 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; delays in obtaining governmental approvals, the completion of exploration as well as those factors
discussed in the Annual Information Form of the Company dated March 28, 2024 in the section entitled "Risk Factors", under
Liberty Gold’s SEDAR+ profile at www.sedarplus.ca.
Although Liberty Gold has attempted to identify important factors that could cause actual actions, events or results to diffe r
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.