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In a recent transaction, Saleem Elmasri, a director at Liberty Star Uranium & Metals Corp. (OTC:LBSR), purchased common stock valued at $15,000. The acquisition involved 166,667 shares at a price of $0.09 per share.
Additionally, Elmasri acquired 83,334 warrants, each priced at $0.09, as part of the same private placement. These warrants provide the right to purchase additional shares and must be exercised within three years. Following these transactions, Elmasri’s direct ownership includes the acquired shares and warrants. InvestingPro analysis indicates a WEAK overall financial health score, with 8 additional key insights available to subscribers.
In other recent news, Liberty Star Uranium & Metals Corp. has finalized a private placement of equity, issuing over 3 million shares to a key executive, Pete O’Heeron. The shares were sold at $0.09 each, raising a total of $277,260.27, which includes a 10% discount to the market price. This move is part of Liberty Star’s strategy to raise capital efficiently without a public offering. Additionally, Liberty Star has reported significant progress in its exploration efforts, particularly in the Hay Mountain and Red Rock Canyon Gold Projects. The discovery of high-grade gold at Red Rock Canyon has expanded the high-grade zone by an additional 100 feet, indicating commercially viable metals. The company is actively seeking joint venture partners to further develop these projects, leveraging its 2024 breakthroughs. Furthermore, Liberty Star has secured $153,931 in executive advances to support its operations and exploration expenses. These advances include contributions from Patricia Madaris, the Chief Financial Officer and Interim CEO, and other executives. The company’s approach to internal funding highlights a proactive strategy to manage short-term financing needs.
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