07:36 AM EDT, 04/29/2024 (MT Newswires) -- Liberty Gold ( LGDTF ) said on Monday that it plans to raise nearly $9.5 million via a non-brokered, private placement financing for exploration drilling on seven high-priority target areas at Black Pine and for other purposes.

The offering, which is scheduled to close by May 17, will include up to 27.1 million units at $0.35 apiece. Each unit will comprise one common share of Liberty Gold ( LGDTF ) and half of a common share purchase warrant. Each warrant will allow the holder to buy one common share of Liberty Gold ( LGDTF ) at $0.45 for 24 months following completion of the offering.

The funds raised will also go to engineering, development, economic studies, and permitting programs for the company's projects in the Great Basin and for general working capital.