TUCSON, Ariz.--(BUSINESS WIRE)--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
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 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.
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