Liberty Energy Corp. (OTCBB: LBYE) announced an equity line of credit for gross proceeds of $4,000,000 with new investor, Asia-Pacific Capital Ltd. on July 19, 2010. The investor can make the investment until July 18, 2014. The completion date may be extended for an additional term of up to 12 months at the option of the company or the investor. The company will issue unit and price of units means a price which equals to the higher of either $0.50, or 90% of the volume-weighted average of the closing price of common shares for the five days immediately preceding the date of the notice. Each unit consists of one common share and one and a half share purchase warrant. Each warrant entitles the holder to purchase one additional common share at an exercise price which equals to 125% of the unit price at which the unit containing the warrant being exercised was issued, for a period of three years from the date such warrant is issued. The company has received initial draw-down. The subscriber may, at their discretion, take the option to subscribe up to a further $4,000,000, when the total subscription from this agreement has been received by the company. The transaction is expected to close on July 18, 2014.

On September 2, 2010, the company announced that it has received $125,000 in its first draw-down. The current draw-down brings the total of external investment this year to $500,000.

On September 21, 2010, the company raised $75,000 in its second close.

On October 19, 2010, the company announced that it has received its third draw-down.

On February 28, 2011, the company announced that it has received a further draw-down.

On March 8, 2011, the company announced that the investor has agreed to advance additional $4,000,000 in the transaction. The company will now raised total gross proceeds of $8,000,000 in the transaction.

On August 9, 2011, the company announced that it has received a further draw-down.

On November 23, 2011, the company amended the terms of the transaction. The unit price will now be 95% of the volume weighted average of the closing price of common stock for the 10 banking days immediately preceding the date of the notice, but at no time will be less than $0.05 per share.

On July 11, 2012, the company announced another draw-down in the transaction.

As of July 31, 2013, Liberty Energy Corp. (OTCPK:LBYE) closed the transaction. The company has issued 3,998,048 shares for gross proceeds of $1,055,000 and 5,807,752 warrants at an exercise price of $1.25 per share.