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Liberty Gold Raises $11.6 Million Through a Bought Deal Financing Including Full Exercise of the Over-Allotment Option

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Liberty Gold Raises $11.6 Million Through a Bought Deal Financing Including Full Exercise of the Over-Allotment Option

 

 

 

 

 

Liberty Gold Corp. (TSX:LGD) is pleased to announce that it has closed its previously announced bought deal financing for aggregate gross proceeds of C$11,557,500.

 

 

A syndicate of underwriters led by Sprott Capital Partners, a division of Sprott Private Wealth LP, and including CIBC World Markets Inc., Haywood Securities Inc., Macquarie Capital Markets Canada Ltd., National Bank Financial Inc. and RBC Dominion Securities Inc. purchased, on a bought deal basis, 25,125,000 units of the Company at a price of C$0.40 per Unit for gross proceeds to the Company of C$10,050,000.  The underwriters also exercised the over-allotment option in full and purchased an additional 3,768,750 Units to cover over-allotments for additional gross proceeds to the Company of C$1,507,500. Each Unit consisted of one common share of Liberty Gold  and one Common Share purchase warrant. Each Warrant entitles the holder to acquire one Common Share at a price of C$0.60 at any time prior to October 2, 2021.

 

 

The net proceeds of the Offering will be used to fund exploration and development of Liberty Gold’s southwest United States gold and precious metal exploration portfolio, focused on the Goldstrike project in Utah, as well as the Black Pine project in Idaho, and the Kinsley deposit in Nevada and for general working capital purposes.

 

 

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 A PROSPECTUS. 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 Goldstrike, Black Pine and Kinsley Mountain, all of which are past producing open-pit mines, where previous operators only scratched the surface.

 

Posted October 2, 2018

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