Liberty Gold completes 9.9% investment by Centerra

Executive Summary

• Liberty Gold Corp. completed a private placement with Centera Gold Inc., selling 50,025,230 common shares at C$0.56 each for gross proceeds of approximately $28.01 million.
• The transaction gives Centera a 9.9% equity stake and customary investor rights, including financing participation, information access, technical committee representation, and the right to nominate one director.
• Net proceeds will be used to fund technical studies on the Black Pine oxide gold project in Idaho and for general corporate purposes.

Key Details

• Shares Issued: 50,025,230 common shares (9.9% of Liberty Gold’s issued and outstanding common equity).
• Price per Share: C$0.56, representing a ~10% premium to the five‑day VWAP prior to announcement.
• Gross Proceeds: Approximately $28.01 million CAD.
• Use of Proceeds: Advance technical studies at the Black Pine project and general corporate purposes.
• Investor Rights Agreement (dated Sept. 29, 2025): Grants Centera financing participation rights, information rights, technical committee representation, and the right to nominate one board director, subject to time‑based and ownership thresholds.
• Statutory Hold Period: All issued shares are subject to a four‑month‑plus‑one‑day hold period expiring on Jan. 30, 2026.
• No Finder’s Fees/Commissions: No fees were paid in connection with the placement.

Notable Quotes

“The closing of this strategic investment marks an important milestone for Liberty Gold. Centerra's endorsement underscores the strength of Black Pine and validates the progress we have made in derisking and advancing the project…we are well positioned to accelerate Black Pine towards feasibility and ultimately a construction decision.” – Jon Gilligan, President & CEO, Liberty Gold Corp.