07:15 AM EDT, 09/30/2025 (MT Newswires) -- Liberty Gold ( LGDTF ) said Tuesday that Centerra Gold ( CGAU ) has acquired a 9.9% stake in the company through a private placement of 50 million shares at $0.56 each, totalling $28 million.

The issue price is a 10% premium to the 5-day volume weighted average price of Liberty's shares as traded on the Toronto Stock Exchange before the transaction's announcement. Proceeds will be used to advance the Black Pine oxide gold project in Idaho and for general corporate purposes.

Centerra also has the right to nominate a director to the Liberty board.

"The closing of this strategic investment marks an important milestone for Liberty Gold ( LGDTF ). Centerra's endorsement underscores the strength of Black Pine and validates the progress we have made in de-risking and advancing the project. With their operational depth and regional experience, we are well-positioned to accelerate Black Pine toward feasibility and ultimately a construction decision," said chief executive Jon Gilligan.