UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
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FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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Date of Report (Date of earliest event reported): April 1, 2011
LIBERTY SILVER CORP.
(Exact name of registrant as specified in its charter)
Nevada | 333-150028 | 32-0196442 |
(State or other jurisdiction of incorporation) | (Commission File Number) | (IRS Employer Identification No.) |
130 King Street West, Suite 3670 Toronto, Ontario, Canada M5X 1A9 |
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(Address of Principal Executive Office) |
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Registrants telephone number, including area code: 416-369-3978
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 DFR 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 OR AN OBLIGATION UNDER AN OFF-BALANCE SHEET ARRANGEMENT OF A REGISTRANT.
Effective April 1, 2011, Liberty Silver Corp. (the Company) borrowed a total of $150,000 pursuant to the terms and conditions of promissory notes (individually referred to as a Note and collectively referred to as the Notes) entered into with six of the Companys directors. Each Note is for $25,000 and is required to be repaid by the Company on the earlier of one year, or when the Company raises a minimum of $2,000,000 through equity investments. The Notes are interest free for the first six months following the date of the Note and then bear interest at a rate of 8% per annum thereafter. In conjunction with the entry into the Notes, in lieu of the holders charging the Company interest on the outstanding principal of the Notes for the initial six months, the Company issued each holder a warrant entitling the holder to purchase up to a total of 50,000 shares of the Companys common stock at price of $0.55 per share for a period of three (3) years following the date of the Note.
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.
LIBERTY SILVER CORP.
By: /s/ Geoff Browne
Chief Executive Officer
Date: April 29, 2011
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