Here are the filing comments...
We shall learn soon enough if SAGE is for real or burnt toast-
From Sept.7.11 filing- for the "Bridge" financing pertaining to SAGE and LBSR:
II. Bridge Financing.
1. Sagebrush has advanced $100,000 to Liberty Star (the “Bridge”) to pay assessment work on some of its Uranium Properties in Arizona.
2. In consideration for the Bridge Liberty Star shall immediately issue to Sagebrush 5,000,000 shares of Liberty Star common stock (the “LS Shares”) and 5 year warrants to purchase 2,500,000 shares of Liberty Star common stock at an exercise price of $0.04 per share (the “LS Warrants”), The LS Shares and the LS Warrants shall be subject to customary protections from material events and recapitalization and shall be subject to full ratchet anti-dilution protection in the event that any lower priced issuance by Liberty Star is made while the LS Warrants are outstanding, provided, however, that in the event that any greater protections are afforded to investors in the next financing of Liberty Star expected to be in an amount of approximately $5,000,000, the LS Shares and LS Warrants shall be entitled to the benefit of such greater protections.
3. In the event that the Reorganization and Private Placement are not achieved by Sagebrush on or before December 31, 2011 Liberty Star’s obligations (other than the obligations under Par. II.2., above) under this Agreement will terminate in Liberty Star’s discretion and Liberty Star will have the full right to retain its Uranium Properties.
I am suspect like many here, but I still HOLD as I piggy back on NAK. Also, if Briscoe can work a deal that doesn't suck, now would be the time since he has huge leverage with NAK's filing and knowing their support makes us more legit than SAGE...by a long shot. Call me Jim, I'll head right over to the office and help you get this deal RIGHT. BAM!
