Liberty Energy Corp. (OTCBB:LBYE) announced a private placement of an 8% convertible note for gross proceeds of $32,500 with a returning investor Asher Enterprises, Inc. on April 10, 2013. The note is convertible into shares of common stock at a conversion price set at 61% of the average closing prices for the lowest three trading prices for the common stock during the ten trading days immediately preceding the conversion date. The convertible note will mature on January 15, 2014 and will have an interest rate of 8% per annum. Bernard S. Feldman of Naidich Wurman Birnbaum & Maday LLP acted as legal advisor to investor. The securities were issued to accredited investor pursuant to exemption provided under Regulation D. The company has not paid any brokerage commissions, transaction fees or similar payments relating to this transaction. At the closing, the company shall reimburse buyer for expenses incurred by them in connection with the negotiation, preparation, execution, delivery and performance of this agreement and the other agreements to be executed in connection herewith, including, without limitation, reasonable attorneys' and consultants' fees and expenses, transfer agent fees, fees for stock quotation services, fees relating to any amendments or modifications of the documents or any consents or waivers of provisions in the documents, fees for the preparation of opinions of counsel, escrow fees, and costs of restructuring the transactions contemplated by the documents. When possible, the company must pay these fees directly, otherwise the company must make immediate payment for reimbursement to the investor for all fees and expenses immediately upon written notice by the investor. The company's obligation with respect to this transaction is to reimburse buyer's expenses shall be $2,500.

On April 10, 2013, Liberty Energy Corp closed the transaction.