Daily News: October 20, 2014

BG Capital Provides Liberty Silver Facility

Liberty Silver announced it amended and restated its agreement in relation to an existing $1.2 million principal amount secured loan facility made available by BG Capital Group (BGCG). Under the terms of the revised agreement, BGCG has made available to the company a committed non-revolving term credit facility in the principal amount of $1.25 million, which shall initially bear interest at a rate of 11% per annum and which shall be secured by a charge on all of the assets of the company.

The company has also repaid the indebtedness to BGCG under the original loan by converting the outstanding, aggregate total sum of the principal amount of the original loan, together with all accrued and unpaid interest thereon, being $1.24 million, into 99,892,296 common shares of the company at a deemed issue price of $0.0125 per common share, in full satisfaction of the Debt under the Original Loan.

The new loan consists of up to $1.25 million of new credit facilities, of which $25,000 had been advanced to the company pursuant to a promissory note, which was superseded by the new loan and became part of the first advance under the new loan in the aggregate amount of $350,000. The company intends to use the funds from the new loan for drilling, metallurgical work, environmental permitting, surveying and other related exploration expenses pertaining to its Trinity Project as well as land taxes and related fees, and for general working capital purposes.

The loan will allow us to advance operations while we consider alternatives for more enduring sources of financing, stated Tim Unwin, cChairman of the board of directors of Liberty.

Liberty Silver is focused on exploring and advancing mineral properties located in North America.