Liberty Star Updates Highly Productive naseba Summit: Mumbai, India
Liberty Star Uranium & Metals Corp. (“Liberty Star” or the “Company”)(LBSR: OTCQB) is pleased to give an update of naseba’s (India Metals & Minerals Investors Initiative) summit in Mumbai, India July 5th attended by Liberty Star CEO/Chief Geologist Jim Briscoe and Director Pete O’Heeron. The summit resulted in expressions of interest by six prequalified investment entities with three groups scheduling additional meetings on the spot. These further conversations could lead to large scale funding of Liberty Star’s Hay Mountain Project.
On July 5th Mr. Briscoe made presentations to six well capitalized Indian investing entities that are actively seeking gold, copper properties in the USA, Arizona in particular. Pete O’Heeron noted: “The trip has been very productive and Jim has impressed all of the prospective partners with his expertise and extensive knowledge of the mineral deposits in Arizona.”
Here is Briscoe’s summary of the naseba Mumbai summit:
“It is important for Liberty Star investors to understand naseba’s approach to this type of funding meeting, how it differs from anything we have done before and why I and Pete O’Heeron are so enthusiastic about this approach. I have been making presentations to large groups of potential investors, at trade shows, brokerage presentations, luncheons, etc. for almost 20 years. In almost all these venues almost nothing was known about the potential investors and whether they really had financial capabilities. During mass presentations other presenters made competitive presentations on other subjects during long days, in which a large percentage of the audience had no interest in the program at any one time. In short most of the potential investors were bored and distracted. Conversely, the naseba model is to thoroughly vet the financial capabilities of potential investors prior to the meetings (at Mumbai it was to have in excess of US$1 million that could be invested). If a prospective investing entity doesn’t have the financial capability they are not invited. Secondly, each investing entity had to have a stated interest in what Liberty Star was offering: in this case Arizona gold and copper [moly] prospects. Unlike so many other meetings, I did not need to compete with other types of companies and their various deals in such things as real estate, coal, oil, or any of more than tens to hundreds of various deals: hence no distractions. During each of the 6 presentations Pete and I met one on one with each prequalified, well capitalized entity for between 20 to 40 minutes. As a result of the private meetings we came away with indications of interest and requests for further information from all six investing entities. Two of these are high potential and have expressed interest in meeting me in Tucson, including a visit to our Hay Mountain site as part of their due diligence process. These are preliminary steps to reaching a deal and we are optimistic about the outcome. Not only were Pete and I impressed with the naseba approach, which showed us they are very well connected at a global level, we also were very impressed with naseba’s personnel: they are smart, energetic, well attired, organized, with lots of business acumen and sales capability and exuded experience and self-confidence. We believe they were suitably impressed with Liberty Star and our outstanding potential. We have agreed to expand the Mumbai experience with a similar campaign in a moneyed country where they have teams in place already vetting and telling qualified investors the Liberty Star – Hay Mountain story. A significant amount of capital raise is the objective.”
“James A. Briscoe” James A. Briscoe, Professional Geologist, AZ CA
CEO/Chief Geologist
Liberty Star Uranium & Metals Corp.
Forward Looking Statements
Statements in this news release that are not historical are forward looking statements. Forward-looking statements in this news release include: that the meetings in India and with potential investors could lead to large scale funding of Liberty Star’s Hay Mountain Project and that we may obtain significant financing.
Factors which may delay or prevent these forward-looking statements from being realized include: our inability to agree with a potential investor on terms of their participation in the Hay Mountain Project or any project; we may not be able to raise sufficient funds to complete our intended exploration or carry on operations; an inability to continue exploration due to weather, logistical problems or hazards even if funds are available. 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.
Contact
Liberty Star Uranium & Metals Corp.
Tracy Myers, 520-425-1433
Investor Relations
info@LibertyStarUranium.com
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