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 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.
For more information, visit libertygold.ca or contact:
Susie Bell, Manager, Investor Relations Phone:
604-632-4677 or Toll Free 1-877-632-4677 info@libertygold.ca
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 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 future 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 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 resources, 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, 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, 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 in the Annual
Information Form of the Company dated March 26, 2021 in the section
entitled "Risk Factors", under Liberty Gold’s SEDAR profile
at www.sedar.com.
Although Liberty Gold has attempted to identify
important factors 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 any intention or obligation to update or
revise any forward-looking information, whether as a result of new
information, future events or otherwise.
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