Las Vegas, NV, Feb. 27, 2014 (GLOBE NEWSWIRE) -- First Liberty Power Corp. (FLPC: OTCQB), an
innovative and diversified exploration, development and mining
company focused on "Mined in America" strategic industrial
minerals, announced the completion of a Stock Purchase Agreement
with Tonaquint, Inc., a Utah corporation.
In a written statement, First Liberty CEO Don
Nicholson detailed the terms of the agreement. "Tonaquint has
recently completed the purchase of $100,000 of FLPC common stock.
This transaction is part of a larger commitment from
Tonaquint to purchase, at market price, additional restricted
common stock to help meet First Liberty's capital needs as it
enters into its next phase of growth and development for its mining
and milling plans. This initial purchase was completed at $.03 per
share, and the parties are anticipating additional investments to
$1,000,000."
Tonaquint is an experienced investor in the
securities of companies at their earlier stages of development. The
Tonaquint group possesses extensive knowledge and experience in
evaluating the merits and risks of such investments and has fully
evaluated First Liberty Power through a due diligence process that
included the review of documents provided by the Company.
According to Tonaquint officials, they have
entered into the agreement 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 the Tonaquint's
representations as expressed in the Stock Purchase Agreement
(SPA).
Under the SPA, Tonaquint shares are
characterized as "restricted securities" under applicable
U.S. federal and state securities laws and that, pursuant to these
laws, the Tonaquint must hold the Shares indefinitely unless
subsequently registered for resale with the Securities and Exchange
Commission.
Tom Dean, President of Murdock Capital Partners,
expressed a high degree of satisfaction regarding the
transaction. "This investment by a well respected financing
institution is an example of the confidence that the investment
community is gaining in First Liberty Power. We are working with
First Liberty to complete additional financings with similar
favorable terms".
FLPC will continue to use Pathways
of Progress announcements to update advancements in
Company operations.
ABOUT FIRST LIBERTY POWER CORPORATION
(OTCQB: FLPC): First Liberty Power Corporation is an
innovative and diversified exploration, development and mining
company focused on bringing to market strategic minerals for
America's Future. The First Liberty corporate philosophy is
driven by a dedication to the Pathways of Progress (POP)
program. This is a program of best corporate practices
designed to drive the company's exploration, development and mining
operations, benefitting First Liberty shareholders, investors and
mining partners, in addition to ensuring safety, environmental
integrity, and good governance.
www.firstlibertypower.com
www.facebook.com/FirstLibertyPower
https://twitter.com/FirstLibertyOTC
Notice Regarding Forward-Looking
Statements
This Press Release may contain
"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 the press
release articles 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.
FLPC 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 the news
release, and FLPC assumes 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 FLPC believes that the
beliefs, plans, expectations and intentions contained in the
published 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, as well our quarterly reports, and other
periodic reports filed from time-to-time with the
SEC.
CONTACT: Robert Reynolds (800) 709-1196
First Liberty Power Corp
ir@firstlibertypower.com
Thomas Dean (646) 396-9615
Murdock Capital Partners
tdean@murdockcapital.com
