Liberty Star Uranium seals $1.24 million private placement of units

Units of shares and warrants sold in two tranches with varying prices

By Devika Patel

Knoxville, Tenn., Nov. 15 - Liberty Star Uranium & Metals Corp. completed a private placement of units, according to an 8-K filed Monday with the Securities and Exchange Commission.

The company sold 30,465,114 units of one common share and one warrant for $1.24 million. Of the units, 25 million were sold at $0.04 apiece on Oct. 20 for $1 million and 5,465,114 were sold at $0.043 per unit on Nov. 12 for $235,000.

Each of the warrants in the first-tranche units is exercisable at $0.056 until Oct. 20, 2013. The strike price is a 40% premium to $0.04, the Oct. 19 closing share price.

Each of the warrants in the second-tranche units is exercisable at $0.06 until Nov. 12, 2013. The strike price is a 50% premium to $0.04, the Nov. 11 closing share price.

Liberty Star is a mineral exploration company based in Tucson.

Issuer:	Liberty Star Uranium & Metals Corp.
Issue:	Units of one common share and one warrant
Amount:	$1,235,000
Units:	30,465,114
Price:	$0.04 (for 25 million units), $0.043 (for 5,465,114 units)
Warrants:	One warrant per unit
Warrant expiration:	Oct. 20, 2013 (for 25 million units), Nov. 12, 2013 (for 5,465,114 units)
Warrant strike price:	$0.056 (for 25 million units), $0.06 (for 5,465,114 units)
Agent:	Non-brokered
Settlement dates:	Oct. 20 (for $1 million), Nov. 12 (for $235,000)
Stock symbol:	OTCBB: LBSR
Stock price:	$0.04 at close Nov. 12
Market capitalization:	$20.54 million

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