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Abstract
Liberty Metals & Mining Holdings, LLC ("LMM") is pleased to announce that it has entered into a subscription agreement (the "Subscription Agreement") with True Gold Mining Inc. ("True Gold"), pursuant to which LMM has purchased, on a private placement basis (the "Private Placement"), 24,358,400 units (the "Subscription Units") of True Gold at a price of C$0.40 per Unit for a total subscription price of C$9,743,360. Each Subscription Unit consists of one common share of True Gold and one-half of one common share purchase warrant (each whole common share purchase warrant, a "Warrant"). Each Warrant entitles the holder to purchase one common share of the Company at a price of $0.47 until August 18, 2014.
LMM also acquired 410,994 common shares of True Gold (the "Subscription Shares") at a price of $0.30 per Common Share for a total subscription price of C$123,298.20 (the "Oudrego Transaction" and together with the Private Placement, the "Transaction").