12% convertible note due Sept. 29, 2016 was sold to JSJ through deal
By Devika Patel
Knoxville, Tenn., Jan. 7 – Liberty Star Uranium & Metals Corp. sold a $50,000 convertible note to JSJ Investments, Inc. in a private placement on Dec. 29, according to an 8-K filed Thursday with the Securities and Exchange Commission.
The 12% note is due on Sept. 29, 2016 and is convertible into common shares at the lesser of 55% of the second lowest trading price during the 10 trading days preceding the conversion notice or 55% of the second lowest trading price during the 10 days before settlement. The convertible may be prepaid.
Based in Tucson, Ariz., Liberty Star is a uranium exploration company.
| Issuer: | Liberty Star Uranium & Metals Corp.
|
| Issue: | Convertible note
|
| Amount: | $50,000
|
| Maturity: | Sept. 29, 2016
|
| Coupon: | 12%
|
| Conversion price: | The lesser of 55% of the second lowest trading price during the 10 trading days preceding the conversion notice or 55% of the second lowest trading price during the 10 days before settlement
|
| Call: | Yes
|
| Warrants: | No
|
| Investor: | JSJ Investments, Inc.
|
| Announcement date: | Jan. 7
|
| Settlement date: | Dec. 29
|
| Stock symbol: | OTCBB: LBSR
|
| Market capitalization: | $4.04 million
|
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