UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of the
Securities
Exchange Act of 1934
Date of
Report (Date of earliest event reported): January 11, 2011 (January 7,
2011)
AMERICAN
LIBERTY PETROLEUM CORP.
(Exact
Name of Registrant as Specified in its Charter)
Nevada
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333-156077
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98-0599151
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(State of Incorporation)
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(Commission File Number)
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(IRS employer identification no.)
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4900
California Ave, Tower B-210
Bakersfield,
CA 93309
(Address
of Principal Executive Offices)
Registrant’s
Telephone Number, Including Area Code: (661) 377-2911
N/A
(Former
name or former address, if changed since last report)
Check the
appropriate box below if the Form 8-K filing is intended to simultaneously
satisfy the filing obligation of the registrant under any of the following
provisions:
¨ Written communications
pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material
pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
¨ Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item
2.03 Creation of a Direct Financial Obligation
On January
7, 2011, American Liberty Petroleum Corp. (the “Company”) borrowed $200,000 from
Keyser Resources, Inc., a Nevada corporation (“Keyser”). The
Promissory Note (the “Note”) executed by the Company in connection with the loan
contains the following payment terms: (a) the unpaid principal amount accrues
interest at the rate of six percent (6%) per annum, (b) the unpaid principal and
all accrued but unpaid interest thereon will be due and payable on February 28,
2011, and (c) the unpaid principal and accrued but unpaid interest may be
prepaid in whole or in part at the option of the Company, without penalty or
premium. The Note is not secured by any assets of the Company. Alvaro
Vollmers, the sole director and officer of the Company, is also the sole officer
and director of Keyser.
The
proceeds of the Note have been used to make a $200,000 payment pursuant to
an Option Agreement dated May 11, 2010, between the Company and Desert
Discoveries, LLC, a Nevada limited liability company. Under the Option
Agreement, Desert Discoveries, LLC granted the Company an option (the “Option”)
to purchase its interest in five oil and gas leases located in Nevada, subject
to the Company’s performance of its obligations under the Option Agreement. The
$200,000 payment is the final payment required under the Option Agreement, other
than the purchase price for the leases. The Option must be exercised
on or before March 4, 2011. The $200,000 payment, originally due on January 4,
2011 under the terms of the Option Agreement, was accepted by Desert Discoveries
on January 7, 2011. The execution of the Option Agreement was
disclosed on the Company’s Current Report on Form 8-K filed on May 17, 2010,
which is incorporated by reference into this Item 2.03.
SIGNATURE
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has
duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: January
11, 2011
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AMERICAN
LIBERTY PETROLEUM CORP.
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By:
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/s/ Alvaro Vollmers
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President
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