Liberty Gold announces 9.9% investment by Centerra Gold

Liberty Gold (LGDTF) entered into a subscription agreement with Centerra Gold (CGAU). whereby Centerra will acquire 9.9% of the issued and outstanding common shares of the Company. Under the Subscription, Centerra has agreed to purchase, by way of private placement, 50,025,230 Common Shares at a price of C$0.56 per share for gross proceeds of C$28.01 million. The issue price represents a 10% premium to the 5-day volume weighted average price of the Common Shares as traded on the Toronto Stock Exchange. Proceeds from the strategic investment will be used to advance technical studies at Black Pine and for general corporate purposes. The Subscription is expected to close on or about October 1, 2025, subject to customary conditions including TSX approval. In connection with the Subscription, Liberty Gold and Centerra intend to enter into a customary investor rights agreement at closing, pursuant to which, among other things and provided that Centerra maintains certain shareholding thresholds, Centerra will have financing participation rights, information rights, technical committee representation rights and the right to appoint one nominee to the Company’s board of directors, among other customary terms. All Common Shares issued pursuant to the Subscription will be subject to a statutory hold period of four months and one day from the date of closing, in accordance with applicable Canadian securities legislation.