Liberty targets McWatters

Junior Liberty Mineral Exploration (LBE-V) is attempting to raise $750,000 through a private-placement offer of 5 million units.

Each unit consists of a share and a warrant; the latter entitles the holder to buy an additional share, at 25 apiece, within a year of the deal’s closing.

Northern Securities is soliciting the financing on a best-efforts basis. In return, it will receive 10% of the units sold.

Proceeds are earmarked for the McWatters project, near Timmins, Ont. A first phase of drilling is currently assessing the property’s potential for platinum-palladium mineralization.