Las Vegas, NV, July 23, 2014 (GLOBE NEWSWIRE) -- 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
