By Sheri Kasprzak
New York, March 10 - Liberty Star Gold Corp. said it has received a $10 million equity line from Cornell Capital Partners LP.
Cornell agreed to buy shares of Liberty Star at 96% of the lowest volume weighted average price for the five trading days after notice of a draw.
Newbridge Securities Corp. was the placement agent.
Proceeds will be used for exploration and development on the company's properties and for potential mineral property acquisitions. The rest will be used for working capital.
Based in Tucson, Liberty Star is a gold exploration company.
| Issuer: | Liberty Star Gold Corp.
|
| Issue: | Standby equity distribution agreement
|
| Amount: | $10 million
|
| Price: | 96% of the lowest volume weighted average price for the five trading days before notice of a draw
|
| Warrants: | No
|
| Investor: | Cornell Capital Partners LP
|
| Placement agent: | Newbridge Securities Corp.
|
| Settlement date: | March 10
|
| Stock symbol: | OTCBB: LBTS
|
| Stock price: | $1.07 at close March 9
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
