Liberty Star Uranium and Metals Corp (LBSR)

[Zilidium]

From the 8k

Item 1.01. Entry into a Material Definitive Agreement.



As of August 15, 2019, Liberty Star Uranium & Metals Corp. (the “Company”) entered into a Securities Purchase Agreement (the “Securities Purchase Agreement”) with Power Up Lending Group Ltd. (“Power Up”). Pursuant to the terms of the Securities Purchase Agreement, the Company agreed to issue a convertible promissory note (the “Note”) to Power Up in the aggregate principal amount of $77,000. Effective August 13, 2019 the Company issued the Note to Power Up consistent with the terms of the Securities Purchase Agreement. The Note bears interest at 8% with a 10% Original Issue Discount and matures on May 30, 2020. Pursuant to the terms of the Note, the outstanding principal and accrued interest on the Note shall be convertible into shares of the Company’s common stock as set forth therein.



The foregoing descriptions of the Note and the Securities Purchase Agreement and of all of the parties’ rights and obligations under the Note and the Securities Purchase Agreement are qualified in its entirety by reference to the Note and the Securities Purchase Agreement, copies of which are filed as Exhibits 10.1 and 10.2 respectively to this Current Report on Form 8-K, and of which are incorporated herein by reference.