LAS VEGAS, April 18, 2012 /PRNewswire/ -- First Liberty Power Corp. (OTCBB: FLPC) (the "Company") www.firstlibertypower.com, a Nevada based mineral exploration company with a primary focus on lithium exploration and development, has announced the appointment of Robert B. Reynolds Jr. to its Board of Directors. According to Company CEO, Don Nicholson, this appointment reflects FLPC's commitment to continued growth.
"As our Company moves forward, particularly with the recent closing of our latest financing, it is important that we have outside independent board members to assist in guiding our operations," Nicholson said. "We welcome Mr. Reynolds, who brings extensive public and private sector business experience, to our Board of Directors."
Reynolds, a resident of Hamburg NY, brings wide-ranging professional experience to the FLPC Board. His resume includes a 31-year career at the Ford Motor Company, where he was actively involved in both local and national negotiations for the United Auto Workers (UAW). Reynolds ran for and was elected to The Erie County Legislature in 2006, and retired from Ford in 2007, in addition to his legislative duties; he was appointed as chairman of the finance and management committee where he administered the county's $1 billion budget. Reynolds has also served as a Hamburg Central School Board member, governing a $50 million dollar budget and has volunteered with several non-profit organizations in the Buffalo, NY area.
"I have long held a sincere interest in the development of alternative energy for the auto industry and I strongly believe it is crucial that our nation develop our rare earth minerals as an alternative to foreign oil," Reynolds said. "So I look forward to serving on the First Liberty Board and helping to implement their strategic development plan."
The Company is also pleased to announce the recent closing of the first stage of a further financing, totaling $205,000, with a further $500,000 expected to be finalized in the forthcoming fiscal quarter. The purpose of this funding is to initiate the next phases of the Company's exploration program on the Lithium property. Further details as to the specific implementation steps of the program are to be released in the coming weeks.
First Liberty Power Corp. is a Nevada based mineral exploration company with a primary focus on lithium exploration and development in the United States. The Company is positioned to capitalize on the anticipated increase in demand for lithium carbonate that is projected to result from the acceleration of the adoption and use of clean renewable energy products that utilize lithium-ion batteries.
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, including but not limited to, the final outcome Lida Valley exploration / work programs, the specific nature and extent of the next phase of our exploration program, our ability to raise the necessary capital to complete our exploration program, and any mineralization, exploration and development of our mineral properties, specifically in regards to Lithium.
Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others, 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 such beliefs, plans, expectations or intentions 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 Securities and Exchange Commission.
SOURCE First Liberty Power Corp.