Liberty Star Uranium and Metals Corp (LBSR)

[gitreal]

Misleading how?

Picture this - you are a long-suffering LBSR investor, and have been told over and over in PRs and JB interviews that no drilling will occur at Hay Mountain until $2 million is raised, and that drilling will not consist of just a couple holes. It appears hopeless that LBSR will ever find an angel investor with that kind of money.

Then, out of the blue, you get a letter from LBSR asking if you are interested in participating in a private placement. The letter states that drilling "is expected" to begin upon raising of $150K. Your heart races, you pump your fist - drilling will now start after only a tiny fraction of $2 million is raised!! LBSR and JB are finally doing it!! You cash in your rainy day fund, and buy 5 units for $15K, thinking that it will only take 9 more investors just like you, and the drilling will start.

But then, a couple weeks later, the company issues an 8-K and PR that says nothing about drilling after $150K is raised. Your heart sinks, and you realize you have been lied to.....again.

Try telling that poor schmuck that now owns 5 units, that "scrutiny over a few words here or timing there is foolish". He's out $15K and there is still no sign of drilling.