Liberty raises C$20m in bought-deal financing
Toronto-listed Liberty Gold has announced a C$20-million bought-deal offering to advance its Black Pine oxide gold project, in the US.
The company entered into an agreement with Canaccord Genuity as sole bookrunner on behalf of a syndicate of underwriters, under which they have agreed to purchase, on a "bought deal" basis, 60 608 000 units at C$0.33 each for gross proceeds of C$20-million.
Each unit will consist of one common share and one-half of one common share purchase warrant, which entitles the holder to acquire a common share at C$0.45 each in the next 24 months.
Black Pine is a past-producing, openpit, run-of-mine heap leach mine, active from 1991 through 1997 when Pegasus Gold produced about 435 000 oz of gold and 189 000 oz of silver from five openpits.
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