First Liberty Power Announces Additional Financing
July 23 2014 - 10:23AM
First Liberty Power Corp. (FLPC: OTCPK), a
diversified exploration, development and mining company focused on
strategic minerals for America's future, today announced additional
equity financing for operations and for a down payment on the
milling facility.
First Liberty Power CEO, Don Nicholson, detailed the financing
arrangements. "We are continuing to make every effort to
bring additional, strategically-aligned equity financing into the
Company, and reducing our reliance on convertible debt
structures. Recently, we made progress in that regard, and
are pleased to announce that Group8 Mining Innovations ("G8MI") has
committed to acquire $200,000 worth of restricted common stock,
priced at s 25% premium over market price, with a minimum price of
$.01/share. The first $100,000 has now been delivered to the
Company, priced at the floor level. The 2nd tranche, as
agreed upon by the principles, is to be delivered within the next 2
weeks."
First Liberty Power Board Chairman, Robert Reynolds, commented
on the overall impact of this financing. "As G8MI is already
a significant shareholder, this direct equity investment provides
further validation as to the direction being taken by the Company,
and demonstrates a continued commitment on the part of both G8MI
and First Liberty's core management. This additional
investment will be instrumental in achieving the Company's short
and mid-term objectives."
First Liberty officials also provided details on further equity
investments made by Tonaquint, Inc., a prior investor in the
Company. Tonaquint has acquired an additional $150,000 of
First Liberty Power's restricted common stock, at a premium to
market price at the time of purchase, as part of their continuing
commitment to help meet the capital requirements for the Company's
mining and milling implementation plans.
Tonaquint, Inc. is an experienced investor in the securities of
companies at various stages of development, and possesses extensive
knowledge and experience in evaluating the merits and risks of
small-cap investments. First Liberty Power management
recently met with Tonaquint directly for a progress update that
included a review of public documents and plans provided by the
Company.
Tonaquint, Inc. is an experienced investor in the securities of
companies at various stages of development, and possesses extensive
knowledge and experience in evaluating the merits and risks of
small-cap investments. According to Tonaquint officials, upon
completion of their recent due diligence regarding First Liberty
Power, it was decided to continue with their earlier transactions
as an investment for their own account, not as a nominee or agent,
and not with a view to be resold or distributed.
Additionally, the issuance of the Shares will not be
registered under the Securities Act by reason of a specific
exemption from the registration provisions of the Securities Act
which depends upon, among other things, the bona fide nature of the
investment intent and the accuracy of Tonaquint's
representations as expressed in the Stock Purchase Agreement
between the parties.
First Liberty Power will continue to use Pathways of
Progress announcements to update advancements in Company
operations.
ABOUT FIRST LIBERTY POWER CORPORATION:
First Liberty Power Corporation is a diversified exploration,
development and mining company focused on bringing to market
strategic minerals for America's Future. First Liberty
Power's corporate philosophy is founded on a methodology of open
and transparent procedures designed to drive the company's
exploration, development and mining operations, while ensuring
safety, environmental integrity, and good governance. Included in
that philosophy is Pathways of Progress (POP), a platform used to
inform shareholders, investors and mining partners of FLPC news and
advances. First Liberty Power is focused on exploring and
developing antimony and other strategic metal projects and
properties.
www.firstlibertypower.com
www.facebook.com/FirstLibertyPower
https://twitter.com/FirstLibertyOTC
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as
that term is defined in Section 27A of the United States Securities
Act of 1933 and Section 21E of the Securities Exchange Act of 1934.
Statements in this press release which are not purely historical
are forward-looking statements and include any statements regarding
beliefs, plans, expectations or intentions regarding the future
plans of the company, the prospects for our mineral properties, and
our ability to raise necessary working capital. Actual results
could differ from those projected in any forward-looking statements
due to numerous factors, including the inherent uncertainties
associated with mineral exploration and difficulties associated
with obtaining financing on acceptable terms. We are not in control
of metals prices and these could vary to make development
uneconomic. These forward-looking statements are made as of the
date of this news release, and we assume no obligation to update
the forward-looking statements, or to update the reasons why actual
results could differ from those projected in the forward-looking
statements. Although we believe that the beliefs, plans,
expectations and intentions contained in this press release are
reasonable, there can be no assurance that they will prove to be
accurate. Investors should consult all of the information set forth
herein and should also refer to the risk factors disclosure
outlined in our most recent annual report for our last fiscal year,
our quarterly reports, and other periodic reports filed from
time-to-time with the SEC.
CONTACT: For more information contact:
Robert Reynolds (800)709-1196
ir@firstlibertypower.com
Thomas Dean (646)396-9615
Murdock Capital Partners
tdean@murdockcapital.com