Liberty Energy Corp. (OTCPK:LBYE) announced that it has entered into a restricted share issuance agreement with Petro Fund - I, Inc. for gross proceeds of $3,650,000 on April 11, 2013. The shares will be issued in an equity line transaction to the investor over a period of 36 months until April 11, 2016. The shares will be issued at a price which is 95% of the volume weighted average of the closing price of the shares for the 10 banking days immediately preceding the date of the notice, but at no time less than $0.05 per share.

On May 23, 2013, the company announced that it has agreed to issue 1,548,921 common shares to the investor at $0.02776 per share for gross proceeds of $43,000.

On May 24, 2013, the company received $43,000 from the investor.

In mid of October 2013, the company has received an additional $41,118 in its second tranche closing. The company issued 898,204 common shares to the investors.

In the quarter ended April 30, 2014, Liberty Energy Corp. (OTCPK:LBYE) has closed the transaction. On the same date, the company has received an additional $8,000 in its third tranche closing. The company issued 548,921 common shares to the investors.