Liberty Gold Corp. (TSX:LGD) is pleased to announce that it has closed its previously announced bought deal financing for gross proceeds of C$30,000,300.
A syndicate of underwriters, co-led by National Bank Financial Inc. and BMO Nesbitt Burns Inc. and including Sprott Capital Partners LP, Cormark Securities Inc., Desjardins Securities Inc., Haywood Securities Inc., PI Financial Corp. and Stifel Nicolaus Canada Inc. purchased on a bought deal basis 27,273,000 common shares of the Company at a price of C$1.10 per Common Share for gross proceeds to the Company of C$30,000,300.
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.
The Company filed a short form prospectus dated March 18, 2021 in all of the provinces of Canada, other than Quebec, pursuant to National Instrument 44-101 – Short Form Distributions, to qualify for distribution the Common Shares offered pursuant to the Offering. Copies of the Prospectus and documents incorporated by reference therein are available electronically on SEDAR (www.sedar.com) under the Company’s issuer profile.
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, OTHER THAN QUEBEC 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 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 REGULATION 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.
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We acknowledge the [financial] support of the Government of Canada.