Liberty Gold Announces C$9.5 Million Non-Brokered Private Placement Financing

VANCOUVER, British Columbia, April 29, 2024 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is pleased to announce a non-brokered, private placement financing raising proceeds of up to C$9.50 million (the “Offering”).

The Offering will consist of the issuance of up to 27,142,858 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 Black Pine, engineering, development, economic studies and permitting programs for the Company's projects in the Great Basin and for general working capital.

In a strategic move to bolster its financial position, Liberty Gold confirms that no finders or broker fees are payable in this non-brokered offering.

Cal Everett, CEO and Director of Liberty Gold, “This strategic infusion of capital will significantly underpin efforts towards advancing our Black Pine Project, not only completing the Preliminary Feasibility Study in the third quarter, and initiating formal mine permitting in the fourth quarter, but also the initial drill evaluation of new exploration targets. We are grateful for the support of our investors and remain committed to delivering value as we progress towards our goal of building the resource to the +5 million ounce range.”

The Offering is scheduled to close on or about May 17, 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 all 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.