$FLPC - First Liberty Power Project Funding Announcement
LAS VEGAS, April 17, 2013 /PRNewswire/ -- First Liberty Power Corp. ( FLPC ), an innovative and diversified mine exploration and development company focused on bringing to market "Mined in America" strategic industrial minerals, is pleased to announce it has obtained a commitment for $500,000 in funding, which will provide the impetus needed to achieve the short term goal of initial mining operations on the Fencemaker Antimony Property.
This funding will allow the company to commence the additional steps required for safe and appropriate access for long-term mining operations, as well as to achieve initial mine production. CEO Don Nicholson commented, "We are very pleased to be acquiring this non-dilutive funding and we are now planning the definitive implementation timeline for the procedures that will follow the water removal from the mine. Closing of this transaction and first cash provisioning is expected next week. We will provide additional details at that time under our Pathways of Progress program, together with ongoing operational updates."
First Liberty Power's partner in this finance is Chicago Venture Partners, who provided a statement in regards to this financing, "We at Chicago Venture Partners, after observing the positive progress made by First Liberty Power in recent months, are very pleased to have the opportunity to help the Company move forward in these next stages towards initial production on the Antimony project. It is difficult, and quite uncommon, for an exploration stage company to make the transition from development to production, and we are very excited to be a part of the process with First Liberty."
First Liberty Power CFO Mario Beckles reaffirmed that company procedures are in place to optimally allocate funds as required for the Fencemaker operations. Mr. Beckles expanded on the statement by saying, "since my arrival at First Liberty Power, an objective of the management team has been to review and expand the financial framework and guidelines associated with our financial operations. This has resulted in the company putting robust reporting programs in place, and additional, more stringent internal controls. We believe that combined with our other operational initiatives, and ongoing efforts in seeking further investments into the company, we will also be able to progress on the development of our equally important Lithium and Vanadium/Uranium projects in the near future."
ABOUT FIRST LIBERTY POWER CORPORATION: First Liberty Power Corporation ( FLPC ) is an innovative and diversified mine exploration and development company focused on bringing to market "Mined in America" strategic industrial minerals. Our corporate philosophy is driven by a dedication to Pathways of Progress, our program of best corporate practices designed to drive us rapidly towards mine production & milling, to the greatest possible benefit of FLPC shareholders, investors and mining partners, while ensuring safety, environmental integrity, and good governance. Presently, FLPC has interests in four properties: the Fencemaker Antimony project in Nevada, the Lida Valley and Smoky Valley Lithium Brine projects in Nevada, and the San Juan Vanadium / Uranium project in Utah. www.firstlibertypower.com
Notice Regarding Forward-Looking Statements
This current report contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements in this press release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future plans of the company, the prospects for our mineral properties, and our ability to raise necessary working capital.
Actual results could differ from those projected in any forward-looking statements due to numerous factors, including the inherent uncertainties associated with mineral exploration and difficulties associated with obtaining financing on acceptable terms. We are not in control of metals prices and these could vary to make development uneconomic. These forward-looking statements are made as of the date of this news release, and we assume no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although we believe that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance that they will prove to be accurate. Investors should consult all of the information set forth herein and should also refer to the risk factors disclosure outlined in our most recent annual report for our last fiscal year, our quarterly reports, and other periodic reports filed from time-to-time with the SEC.
