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Liberty Star Uranium & Metals Corp. (OTCQB:LBSR), a Nevada-based mining company, announced the appointment of Gerardo King to its Board of Directors, effective immediately. The company, which specializes in metal mining, confirmed the appointment in a recent filing with the U.S. Securities and Exchange Commission.
Bringing over 25 years of experience in finance and mining, Mr. King is the founder and CEO of Tamesis, an investment bank with a broad client base across the Americas and Europe. His career highlights include closing transactions exceeding $25 billion and serving as a board director at Peak 10 Energy, where he provides strategic guidance on growth and sustainability.
Mr. King's appointment comes as Liberty Star seeks to expand its project development. He expressed enthusiasm for joining the board, noting the potential to establish a precious metals cash-flow platform while enhancing the company's copper property value.
Pete O’Heeron, Chairman of Liberty Star, praised Mr. King's global mining joint venture expertise, indicating that it would enhance the company's appeal to potential joint venture partners for their Hay Mountain and Red Rock Canyon mineral opportunities.
The company disclosed no family relationships between Mr. King and any current directors or executive officers. Additionally, there have been no transactions involving Mr. King that exceeded $120,000 since the last fiscal year, nor are there any proposed transactions that would require disclosure.
In other recent news, Liberty Star Uranium & Metals Corp. announced the discovery of high-grade gold at its Red Rock Canyon Gold Project in southeast Arizona. The initial channel sampling assay results revealed over 30% of the lenses sampled showed more than 1.5 grams per ton of gold over their full widths. One sample even reached as high as 85.8 grams per ton over one foot.
In financial developments, the company secured a $70,000 loan from its Chairman, Secretary & Treasurer, Peter O'Heeron, to support ongoing exploration expenses. The loan, carrying an annual interest rate of 10%, is due on July 5, 2025, with an option for early repayment or extension at Mr. O'Heeron's discretion.
Furthermore, Liberty Star also entered into an agreement with 1800 Diagonal Lending LLC, securing a $79,200 promissory note with a 10% interest rate, set to mature on March 15, 2025. The note stipulates a repayment schedule of four set monthly cash payments starting six months from the effective date.
These recent developments highlight the company's financial strategies and progress in exploration activities.
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