TUCSON, Ariz.–Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”) (OTCQB: LBSR) is pleased to give an update of the recently concluded Middle East roadshow hosted by Naru Capital (“Naru”), a division of naseba. Company CEO/Chief Geologist Jim Briscoe presented Liberty Star’s premiere property Hay Mountain Project (“Hay Mountain”) in conjunction with the Mine Finders training program (NR 177). All ten meetings were successful with requests for additional information including confidentiality/non-disclosure agreements, project details and specific proposals. It is anticipated that from these meetings the Company can proceed to a memorandum of understanding (MOU) and or a letter of intent (LOI) with the final objective, an executed contract funding the Hay Mountain Project with or without the Mine Finders program. Briscoe’s summary of events:
“The roadshow started in Saudi Arabia (SA) Sunday (a work day) June 22 and was complete after visiting senior executives of 10 large organizations in three different countries in five cities and concluded on Friday evening, June 27. The meetings were conducted in Dammam, Riyadh, and Jeddah, Saudi Arabia, Muscat, Sultanate of Oman, and Istanbul, Turkey.
Naru Capital functions as a deal originator for investors in the growth markets with an unbiased approach to sourcing potential investment targets.
They have developed relationships with a network of qualified investors including private investors, sovereign wealth funds, financial institutions, state owned enterprises, educational institutions, natural resource investment companies, private equity firms and capital advisory firms across the growth markets. Their dedicated investor analysts leverage their extensive knowledge and match the needs of the investors with the specifics of the project. Naru’s reach in the liquid emerging markets has led to a database containing over a million contacts with areas of expertise including capital markets, energy, health care, and natural resources (our category).
From their list of investor clients Naru determines what entities are a match for the client’s project. They start with hundreds of potentials and screen them over a period of months. It involves an extensive search for just the right matchup between the client (Liberty Star) and the objectives and financial capability of the investor and includes extensive targeted vetting. Only a few finalists are chosen – in our case 10 entities.
Meetings are arranged between the client (Liberty Star) and the potential investor, the business case is presented in a personal one on one meeting.
After the presentation Naru provides a debrief report and an action plan for Liberty Star with input from the investors.
For each investor met with a positive response, Liberty Star will send a confidentiality, non-compete agreement (CA), a proposed deal, a letter of intent (LOI), a memorandum of understanding (MOU) and then, after an agreement has been hammered out, an executable contract. Of course after the CA has been signed Liberty will disclose all information on the project to the potential funder.
As a result of our presentations, all parties have responded positively and would like further documents and information.
We are currently working on preparation of documents. We are preparing thank you notes, confidentiality/non-disclosure/non-compete agreements, background data, and business plans and proposals for the Hay Mountain Project and the Mine Finders program, and are preparing letters of intent and memoranda of understanding, which we believe will lead to one or more investments in our proposals.”
“James A. Briscoe”
James A. Briscoe, Professional Geologist, AZ CA
Liberty Star Uranium & Metals Corp.
Statements in this news release that are not historical are forward-looking statements. Forward-looking statements in this news release include all our planned drilling program and our planned route to access partners or funding sources. Factors which may delay or prevent these forward-looking statements from being realized include: the failure of our proposals to be accepted; we may not attract any partners or funding sources through the intended routes; we may not be able to raise sufficient funds to complete our intended exploration, keep our properties or carry on operations; and an inability to continue exploration due to weather, logistical problems, labor or equipment problems or hazards even if funds are available. Even if we find a partner, we may not be able to reach agreement or carry out the development program as contemplated. Despite encouraging data there may be no commercially exploitable mineralization on our properties. Readers should refer to the risk disclosures in the Company’s recent 10-K and the Company’s other periodic reports filed from time to time with the Securities and Exchange Commission.