By Sheri Kasprzak
New York, May 15 - Liberty Star Uranium & Metals Corp. concluded a $4.4 million private placement of 8% senior unsecured convertible notes.
The two-year notes, purchased by institutional investors, are convertible into common shares at $0.65 each.
The investors also received warrants for 6,769,228 common shares, exercisable at $0.75 each for five years.
Hunter Wise Securities, LLC was the placement agent.
Proceeds will be used for general corporate purposes.
Based in Tucson, Ariz., Liberty Star is a uranium exploration company.
| Issuer: | Liberty Star Uranium & Metals Corp.
|
| Issue: | Senior unsecured convertible notes
|
| Amount: | $4.4 million
|
| Maturity: | Two years
|
| Coupon: | 8%
|
| Price: | Par
|
| Yield: | 8%
|
| Conversion price: | $0.65
|
| Warrants: | For 6,769,228 shares
|
| Warrant expiration: | Five years
|
| Warrant strike price: | $0.75
|
| Placement agent: | Hunter Wise Securities, LLC
|
| Settlement date: | May 15
|
| Stock symbol: | OTCBB: LBSU
|
| Stock price: | $0.51 at close May 15
|
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