Liberty Star Uranium & Metals Corp. (“Liberty
Star” or the “Company”)(LBSR:
OTCQB) is pleased to give an update of naseba’s
(India Metals & Minerals Investors Initiative) summit in Mumbai, India
July 5th attended by Liberty Star CEO/Chief Geologist Jim
Briscoe and Director Pete O’Heeron. The summit resulted in expressions
of interest by six prequalified investment entities with three groups
scheduling additional meetings on the spot. These further conversations
could lead to large scale funding of Liberty Star’s Hay
Mountain Project.
On July 5th Mr. Briscoe made presentations to six well
capitalized Indian investing entities that are actively seeking gold,
copper properties in the USA, Arizona in particular. Pete O’Heeron
noted: “The trip has been very productive and Jim has impressed all of
the prospective partners with his expertise and extensive knowledge of
the mineral deposits in Arizona.”
Here is Briscoe’s summary of the naseba Mumbai summit:
“It is important for Liberty Star investors to understand naseba’s
approach to this type of funding meeting, how it differs from anything
we have done before and why I and Pete O’Heeron are so enthusiastic
about this approach. I have been making presentations to large groups of
potential investors, at trade shows, brokerage presentations, luncheons,
etc. for almost 20 years. In almost all these venues almost nothing was
known about the potential investors and whether they really had
financial capabilities. During mass presentations other presenters made
competitive presentations on other subjects during long days, in which a
large percentage of the audience had no interest in the program at any
one time. In short most of the potential investors were bored and
distracted. Conversely, the naseba model is to thoroughly vet the
financial capabilities of potential investors prior to the meetings (at
Mumbai it was to have in excess of US$1 million that could be invested).
If a prospective investing entity doesn’t have the financial capability
they are not invited. Secondly, each investing entity had to have a
stated interest in what Liberty Star was offering: in this case Arizona
gold and copper [moly] prospects. Unlike so many other meetings, I did
not need to compete with other types of companies and their various
deals in such things as real estate, coal, oil, or any of more than tens
to hundreds of various deals: hence no distractions. During each of the
6 presentations Pete and I met one on one with each prequalified, well
capitalized entity for between 20 to 40 minutes. As a result of the
private meetings we came away with indications of interest and requests
for further information from all six investing entities. Two of these
are high potential and have expressed interest in meeting me in Tucson,
including a visit to our Hay Mountain site as part of their due
diligence process. These are preliminary steps to reaching a deal and we
are optimistic about the outcome. Not only were Pete and I impressed
with the naseba approach, which showed us they are very well connected
at a global level, we also were very impressed with naseba’s personnel:
they are smart, energetic, well attired, organized, with lots of
business acumen and sales capability and exuded experience and
self-confidence. We believe they were suitably impressed with Liberty
Star and our outstanding potential. We have agreed to expand the Mumbai
experience with a similar campaign in a moneyed country where they have
teams in place already vetting and telling qualified investors the
Liberty Star – Hay Mountain story. A significant amount of capital raise
is the objective.”
“James A. Briscoe” James
A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty
Star Uranium & Metals Corp.
Forward Looking Statements
Statements in this news release that are not historical are forward
looking statements. Forward-looking statements in this news release
include: that the meetings in India and with potential investors could
lead to large scale funding of Liberty Star’s Hay
Mountain Project and that we may obtain significant financing.
Factors which may delay or prevent these forward-looking statements
from being realized include: our inability to agree with a potential
investor on terms of their participation in the Hay Mountain Project or
any project; we may not be able to raise sufficient funds to complete
our intended exploration or carry on operations; an inability to
continue exploration due to weather, logistical problems or hazards even
if funds are available. Readers should refer to the risk disclosures in
the Company’s recent 10-K and the Company’s other periodic reports filed
from time to time with the Securities and Exchange Commission.
Copyright Business Wire 2013