Convertible promissory note due 2014 purchased by Asher Enterprises
By Devika Patel
Knoxville, Tenn., Sept. 27 - Liberty Energy Corp. sold a $32,500 convertible promissory note to Asher Enterprises, Inc. on Sept. 23, according to an 8-K filed Friday with the Securities and Exchange Commission. The deal priced on Sept. 17.
The 8% note is due June 19, 2014 and may be converted into common shares at 58% 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: | June 19, 2014
|
| Coupon: | 8%
|
| Conversion price: | 58% of the market price
|
| Call: | At 115
|
| Warrants: | No
|
| Investor: | Asher Enterprises, Inc.
|
| Pricing date: | Sept. 17
|
| Settlement date: | Sept. 23
|
| Stock symbol: | OTCBB: LBYE
|
| Stock price: | $0.03 at close Sept. 16
|
| Market capitalization: | $2.89 million
|
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