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Liberty Gold Announces the Sale of the Goldstrike Project for Proceeds of US$72.5 Million
VANCOUVER, British Columbia, March 23, 2026 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX: LGD; OTC...
About this update from Liberty Gold Corp
[{"type":"text","content":"Liberty Gold Announces the Sale of the Goldstrike Project for Proceeds of US$72.5 Million\nVANCOUVER, British Columbia, March 23, 2026 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX: LGD; OTCQX: LGDTF) (“Liberty Gold” or the “Company”) announces that it has entered into a definitive share purchase agreement (the “Agreement”) to sell the issued and outstanding shares of its subsidiary, Speciality American Metals Inc., that owns the Goldstrike Project located in southern Utah (“Goldstrike”), to Heliostar Metals Ltd. (“Heliostar”) for US$72.5 million in total consideration (the “Transaction”). The Transaction will provide Liberty Gold with additional capital to advance its flagship Black Pine Oxide Gold Project located in southern Idaho. Transaction Summary Under the terms of the Agreement, Liberty Gold expects to receive gross proceeds of US$72.5 million, which is comprised of: US$10 million in cash plus approximately 1.6 million Heliostar common shares (valued at approximately US$2.5 million) on closing of the Transaction (“Closing”);US$10 million in cash 12 months from Closing;US$10 million in cash 18 months from Closing;US$15 million in cash on the earlier of the achievement of certain infrastructure-related milestones or 5 years from Closing; andUS$25 million in cash on the earlier of release of a feasibility study, a construction decision or 5 years from Closing. The Agreement contains certain representations and warranties, covenants and indemnities customary for a transaction of this nature. All shares of Heliostar received as consideration in the Transaction will be subject to a hold period under applicable Canadian securities laws, which will expire four months plus one day from closing of the Transaction. “This transaction provides meaningful non-dilutive capital, with total consideration of US$72.5 million, strengthening our balance sheet at an important stage in the advancement of Black Pine,” said Jon Gilligan, President & Chief Executive Officer of Liberty Gold. “The structure delivers near-term funding while maintaining exposure to additional value as Goldstrike advances, supporting feasibility and long-lead procurement at Black Pine, without shareholder dilution. We are also very pleased to partne...