Liberty Star Uranium reports default notice on four series of notes

By Susanna Moon

Chicago, June 4 - Liberty Star Uranium & Metals Corp. received notice of default on June 1 for notes that it issued on May 11, 2007, Aug. 28, 2008, May 21, 2009 and Aug. 14, 2009, according to an 8-K filing with the Securities and Exchange Commission.

Default was triggered by non-payment of amounts due on or before June 1, the release said.

Liberty said its secured lenders have given notice that the notes are now due and owed in full and demand full payment of all principal, interest, liquidated damages and all other sums due under the notes.

The minimum amount due is $3.5 million, but the lenders may demand a higher amount based on their calculations of amounts due plus accrued interest and penalties, the company noted.

Based in Tucson, Ariz., Liberty Star is a uranium exploration company.

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