Liberty Gold Updates on TV Tower Transaction
Liberty Gold Corp. (TSX:LGD; OTCQX:LGDTF) (“Liberty Gold” or the “Company”) is excited to share that it has received the necessary approval from the Bureau of Mining and Petroleum Affairs, part of the Turkish Government's Ministry of Energy and Natural Resources, for the previously announced sale of its stake in the TV Tower copper-gold project (“TV Tower” or the “Project”). The transaction is anticipated to finalize in September.
Cal Everett, CEO and Director of Liberty Gold, stated, “The government's approval for the sale of TV Tower marks the last required step for this transaction. Once completed, it will finalize the monetization of all of Liberty Gold’s Turkish assets and position the Company as a dedicated Great Basin gold entity, advancing two Carlin-style gold deposits.”
Since entering into the share purchase agreement, Liberty Gold has boosted its interest in the Project to 73.7% by solely funding specific project expenses. Consequently, Liberty Gold’s share of the US$11.5 million in gross proceeds has risen to US$8.5 million, which will be disbursed in three installments as follows:
- US$3.7 million on the closing date.
- US$2.2 million on the first anniversary of the closing date.
- US$2.6 million on the second anniversary of the closing date.
ABOUT LIBERTY GOLD
Liberty Gold is dedicated to exploring and developing open-pit oxide deposits in the Great Basin of the United States, an area renowned for large-scale gold projects that are well-suited for open-pit mining. This region is among the most productive gold-producing areas globally, extending across Nevada and into Idaho and Utah. Our expertise lies in the Great Basin, and we are committed to discovering and advancing substantial gold deposits that can be profitably mined through open-pit methods.
For further details, please contact:
Susie Bell, Manager, Investor Relations
Phone: 604-632-4677 or Toll Free 1-877-632-4677
Email: info@libertygold.ca
Frequently Asked Questions
What is the TV Tower project?
The TV Tower project is a copper-gold exploration initiative located in Turkey.
What approval did Liberty Gold receive?
Liberty Gold has received approval from the Turkish government for the sale of its interest in the TV Tower project.
What will happen to Liberty Gold after the sale?
Post-sale, Liberty Gold plans to concentrate exclusively on its projects within the Great Basin region.
What percentage of the TV Tower project does Liberty Gold currently hold?
Liberty Gold has increased its ownership in the TV Tower project to 73.7%.
Who should be contacted for more information about Liberty Gold?
For inquiries, please reach out to Susie Bell, Manager of Investor Relations, via phone or email.
