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Liberty Star Uranium & Metals Corp. (OTCQB:LBSR) has entered into a Securities Purchase Agreement with 1800 Diagonal Lending LLC, as disclosed in a recent SEC filing. The agreement, dated May 30, 2025, involves the issuance of a convertible promissory note valued at $73,700.
The note, which was issued on May 30, 2025, carries an interest rate of 8% and includes a 10% original issue discount. It is set to mature on March 15, 2026. According to the terms, the principal and accrued interest on the note can be converted into shares of Liberty Star’s common stock.
This financial arrangement marks a significant move for Liberty Star, a Nevada-incorporated company operating in the metal mining sector, as it seeks to bolster its financial standing. The company is based in Tucson, Arizona. InvestingPro data reveals concerning liquidity metrics, with a current ratio of 0.02 indicating that short-term obligations exceed liquid assets. Subscribers can access 8 additional ProTips and comprehensive financial metrics for deeper analysis.
Details of the agreement and the note are available in the exhibits filed with the SEC, specifically Exhibits 3.59 and 3.60, which are part of the company’s Form 8-K submission. The filing does not classify Liberty Star as an emerging growth company under the SEC’s criteria.
The information about this transaction is based on the company’s official SEC filing.
In other recent news, Liberty Star Uranium & Metals Corp. has announced a private placement sale involving its Chairman of the Board, Pete O’Heeron. The company issued 3,190,718 shares of common stock at a discounted price of $0.0742 per share, totaling $236,868.49. This transaction includes an additional half warrant for each share, exercisable at the offering price for 36 months. Additionally, Liberty Star has secured an $89,650 convertible promissory note through a Securities Purchase Agreement with 1800 Diagonal Lending LLC. The note carries an 8% interest rate with a 10% original issue discount and is set to mature on February 15, 2026. The principal and accrued interest can be converted into shares of Liberty Star’s common stock, potentially affecting current shareholders. These developments indicate Liberty Star’s strategic efforts to raise capital and adjust its financial structure.
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