LIBERTY STAR URANIUM & METALS CORP. (LBSR): debt financing — Liberty Star borrows $75,000 from Chairman Peter O'Heeron at 10% interest

LIBERTY STAR URANIUM & METALS CORP.

Promissory note executed April 3, 2024 with Peter O'Heeron, Chairman, Secretary & Treasurer.
Principal $75,000, interest 10% per annum compounded annually.
Maturity April 3, 2025 unless extended or prepaid.
Proceeds for ongoing exploration expenses.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.99

LIBERTY STAR URANIUM & METALS CORP. incurred loan of $75,000 with Peter O'Heeron at 10% per annum, compounded annually maturing April 3, 2025.

Instrument: loan
Principal: $75,000
Counterparty: Peter O'Heeron
Rate: 10% per annum, compounded annually
Maturity: April 3, 2025
Event: incurrence

Exact text from the filing

On April 3, 2024, Liberty Star Uranium & Metals Corp. (the “Company”) entered into a Promissory Note Agreement (the “Note”) with Peter O’Heeron, Chairman, Secretary & Treasurer of the Company. The Note was executed to evidence a $75,000 loan to the Company from Mr. O’Heeron. The Company intends to use the proceeds for payment of on-going exploration expense. The Note bears interest at 10% per annum, compounded annually with principal and interest maturing April 3, 2025, unless further extended by Mr. O’Heeron, or the company chooses to pay earlier.

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Source: SEC EDGAR

accession 0001493152-24-013223

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