Jan. 3, 2011
/PRNewswire/ -- First Liberty Power Corp (OTC Bulletin Board: FLPC)
today announced that on the 17th of
the Company requested and received an investment of an additional
. This is the third investment the Company has received from the
one million dollar
finance agreement the Company announced on
2010. Under the terms of the agreement, First Liberty Power Corp. has the right to call upon funds for up to
by issuing units consisting of one share of its common stock and one common stock purchase warrant exercisable for the purchase of one additional share of common stock. The securities to be issued under the agreement have not been registered under the Securities Act of 1933 and may not be offered or sold in
the United States
absent a registration or an applicable exemption from the registration.
''As the international demand for electric vehicles and battery-powered devices increases, the global demand for our potential Lithium resource has intensified the investment communities spotlight on the sector," commented Mr.
, First Liberty Power's CEO and President.
The funds raised will be allocated to administration of the Company and to the exploration and development of the Company's 84 placer claims (12,800 acres) strategically located in
Esmeralda County, Nevada
First Liberty Power Corp. is a
based mineral exploration company with a primary focus on lithium and vanadium exploration and development in
the United States
. The Company is positioned to capitalize on the anticipated increase in demand for both lithium carbonate and vanadium that is projected to result from the adoption and use of clean renewable energy that will fuel demand for products that utilize lithium-ion batteries and vanadium redox batteries.