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Liberty Gold Reports Q2 2024 Financial and Operating Results
VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) ("Liberty Gold" or the “Company”), is pleased to announ
About this update from Liberty Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Aug. 12, 2024 (GLOBE NEWSWIRE) -- Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (\"Liberty Gold\" or the “Company”), is pleased to announce its financial and operating results for the three and six months ended June 30, 2024. All amounts are presented in United States dollars unless otherwise stated. SECOND QUARTER OF 2024 AND RECENT HIGHLIGHTS On April 29, 2024, we announced a non-brokered private placement for C$9.5 million, and on April 30, 2024, announced that the private placement was upsized to C$12.5 million1 (the “Private Placement”). Under the Private Placement the Company sold 35,715,362 units of the Company (the “Units”) at an issue price of C$0.35 per Unit. Each Unit consists of one common share of Liberty Gold (each, a “Common Share”) and 1/2 of a Common Share purchase warrant (a “Warrant”). Each Warrant entitles the holder to acquire one Common Share at a price of C$0.45 for a period of 24 months following completion of the Private Placement. On April 17, 2024, we announced the signing of a definitive agreement to sell the TV Tower Project in Türkiye, for $11.5 Million on a 100% Basis. The Company’s 73.7% share of the $11.5 million in gross proceeds ($8.5 million) will be paid in three stages as follows2: $3.7 million on the closing date. $2.2 million on the first anniversary of the closing date. $2.6 million on the second anniversary of the closing date. On June 11, 20243, we announced the appointment of a Director of Regulatory Affairs and Sustainability, Matthew Zietlow, to advance mine permitting with the federal and state agencies. Mr. Zietlow has over 30 years of experience in mine permitting, operational compliance, reclamation and closure at multiple active and idled locations throughout the western United States. He has held senior roles in community affairs, media relations, and academic advisory boards related to the mining sector, and also served as State chair of the Nevada Mining Association Executive Environmental Committee. At the Black Pine project (“Black Pine”), In June 20244, we commenced a 20,000 metre (“m”) reverse circulation drill program focusing on seven new high-priority targets aimed to significantly enhance the Black Pine’s resource base and unlock new areas of oxide gold mineralization. The Company progressed the pre-feasibility study, advancing engineering on...