Liberty Gold (LGD.TO) has received C$8.0 million in proceeds from the exercise of common share purchase warrants issued in connection with its May 2024 non-brokered private placement, the company said on Friday
All holders of warrants have exercised their warrants prior to the expiry date of May 17, 2026.
The proceeds were from the exercise of 17.9 million warrants at an exercise price of C$0.45 per warrant, resulting in the issuance of an equivalent number of common shares.
In addition, certain common share purchase warrants issued in connection with Liberty Gold's April 2025 bought deal financing have been exercised early. About 25 million warrants issued under that financing remain outstanding at an exercise price of C$0.45 per warrant and expire on April 22, 2027.
The proceeds strengthen Liberty Gold's balance sheet as it advances the Black Pine oxide gold project in Idaho. A feasibility study is scheduled for completion in the fourth quarter.
Combined with anticipated staged payments from recent non-core asset sales, the company expects about US$40 million in incoming treasury funds over the next 18 months.
Based on current plans and assumptions, Liberty Gold believes it is fully-funded through a construction decision for Black Pine.