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Patricia Madaris, the CFO and VP of Finance, as well as the acting CEO of Liberty Star Uranium & Metals Corp. (OTC:LBSR), recently made significant stock purchases. According to the latest SEC filings, Madaris acquired 1,133,574 shares of the company's common stock at a price of $0.11 per share, amounting to a total transaction value of $124,693.
In addition to the common stock purchase, Madaris also acquired 566,787 warrants as part of the same private placement deal. These warrants, which provide the right to purchase additional shares at the same price of $0.11, must be exercised within three years before they expire.
This transaction reflects Madaris's continued commitment to Liberty Star Uranium, as she now directly owns 1,133,574 shares following the transaction.
In other recent news, Liberty Star has been active in securing financial support for its ongoing operations. The company secured $153,931 in executive advances, with Patricia Madaris, the Chief Financial Officer and Interim CEO, providing a significant portion of this amount. Liberty Star also obtained a $67,200 unsecured bridge loan from 1800 Diagonal Lending LLC, offering a flexible repayment option that could potentially be converted into shares of the company's common stock.
Another notable financial maneuver was Liberty Star's securing of a $97,200 unsecured promissory note with 1800 Diagonal Lending LLC. This note carries a 10% interest rate and offers the company the option to prepay without penalty. These recent developments indicate the company's strategic financial planning in managing its capital-intensive operations.
In addition to these financial arrangements, Liberty Star has reported the discovery of high-grade gold at its Red Rock Canyon Gold Project in southeast Arizona. The company also announced the addition of Gerardo King, a finance expert with 25 years of experience, to its Board of Directors. These developments reflect Liberty Star's progress in exploration activities and its commitment to enhancing its leadership team.
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