Liberty Star Uranium & Metals Enters Bridge Note Agreement with 1800 Diagonal Lending

Liberty Star Uranium & Metals Corp. recently disclosed, through a Form 8-K filing, that on December 2, 2024, the company entered into an unsecured interest-bearing Bridge Note with 1800 Diagonal Lending LLC. According to the terms of the agreement, the Company issued a bridge note to 1800 Diagonal in the principal amount of $67,200. The note carries an interest rate of 10%, with a 16.67% Original Issue Discount and matures on September 15, 2025.

The Bridge Note allows for the payment of outstanding principal and accrued interest through four set monthly cash payments, commencing six months from the effective date. A notable feature of the Note is the option for prepayment without any penalty. Additionally, an event of default clause is included, which may result in the conversion of the default into shares of the Company’s common stock, as outlined in the agreement.

The specifics of the Note and the accompanying Securities Purchase Agreement, along with all related rights and obligations of the parties involved, are outlined in the official documents filed as Exhibits 3.54 and 3.55 respectively in the current Report on Form 8-K.

Furthermore, in compliance with SEC requirements, Liberty Star Uranium & Metals Corp. revealed that the securities offered in this agreement will be registered under Section 12(b) of the Act, with common shares trading under the symbol LBSR on the OTCQB.

The filing does not suggest any immediate impact on the company’s status as an emerging growth company or hint at any incoming transitions related to financial accounting standards compliance. The Company’s contact information and main executive offices details are provided for reference in the filing, emphasizing transparency around the disclosed transaction.

This disclosure provides shareholders and interested parties with crucial information regarding Liberty Star Uranium & Metals Corp.’s recent financial agreement. The filing can be accessed in full on the SEC’s EDGAR database for further examination or reference by stakeholders.

Please note that this news article is a brief summary derived from the Form 8-K filing with the SEC and should be recognized as such for informational purposes.

This concludes the key points highlighted in Liberty Star Uranium & Metals’ recent agreement with 1800 Diagonal Lending LLC as per the Form 8-K filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Liberty Star Uranium & Metals’s 8K filing here.

About Liberty Star Uranium & Metals

Liberty Star Uranium & Metals Corp., a mineral resource company, engages in the acquisition and exploration of mineral properties in Arizona and the Southwest of the United States. The company explores for copper, molybdenum, gold, silver, lead, zinc, manganese, and other metals, including rare earth elements.