True Gold Mining Inc. Announces Closure of Private Placement to Liberty Metals & Mining Holdings

True Gold Mining Inc. (TSXV:TGM) announced that they have closed a non-brokered private placement with Liberty Metals & Mining Holdings, LLC as part of a $23.5 million strategic investment agreement that True Gold and LMM will close in two tranches.

As quoted in the press release:

Proceeds of the Private Placement will be used primarily for expenditures related to the advancement of the Karma Project, ongoing exploration, as well as for general administrative and corporate expenses.

True Gold’s Executive Chairman, Mark O’Dea, said:

We are pleased to welcome LMM as a cornerstone investor in True Gold,. Their investment represents a decisive endorsement of the True Gold team and the Karma Project.

To view the whole press release, click here.