Published on 4/17/2013 in the Prospect News PIPE Daily.
Liberty Energy completes $32,500 private placement of 8% convertible
Convertible promissory note due 2014 purchased by Asher Enterprises
By Devika Patel
Knoxville, Tenn., April 17 - Liberty Energy Corp. sold a $32,500 8% convertible promissory note to Asher Enterprises, Inc. on April 12, according to an 8-K filed Wednesday with the Securities and Exchange Commission.
The nine-month note may be converted into common shares at 61% of the market price. It may be prepaid at 115.
The oil and gas explorer is based in Selby, England.
| Issuer: | Liberty Energy Corp.
|
| Issue: | Convertible promissory note
|
| Amount: | $32,500
|
| Maturity: | Jan. 15, 2014
|
| Coupon: | 8%
|
| Conversion price: | 61% of the market price
|
| Call: | At 115
|
| Warrants: | No
|
| Investor: | Asher Enterprises, Inc.
|
| Settlement date: | April 12
|
| Stock symbol: | OTCBB: LBYE
|
| Stock price: | $0.08 at close April 11
|
| Market capitalization: | $6.64 million
|
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