07/17/2025 | Press release | Distributed by Public on 07/17/2025 14:50
Item 1.01. Entry into a Material Definitive Agreement.
On July 14, 2025, Liberty Star Uranium & Metals Corp. (the "Company") entered into a Securities Purchase Agreement (the "Securities Purchase Agreement") with 1800 Diagonal Lending LLC. ("1800 Diagonal"). Pursuant to the terms of the Securities Purchase Agreement, the Company agreed to issue a convertible promissory note (the "Note") to 1800 Diagonal in the aggregate principal amount of $79,200. Effective July 14, 2025, the Company issued the Note to 1800 Diagonal consistent with the terms of the Securities Purchase Agreement. The Note bears interest at 8%, with a 10% Original Issue Discount and matures on April 30, 2026. Pursuant to the terms of the Note, the outstanding principal and accrued interest on the Note shall be convertible into shares of the Company's common stock as set forth therein.
The foregoing descriptions of the Note and the Securities Purchase Agreement and of all of the parties' rights and obligations under the Note and the Securities Purchase Agreement are qualified in its entirety by reference to the Note and the Securities Purchase Agreement, copies of which are filed as Exhibits 3.61 and 3.62 respectively to this Current Report on Form 8-K, and of which are incorporated herein by reference.
Item 2.03. Creation of a Direct Financial Obligation or an Obligation Under an Off-Balance Sheet Arrangement of a Registrant.
The information set forth above in Item 1.01 of this Current Report on Form 8-K is incorporated herein by reference.