Penny Co's do unregistered exempted sales of stock
Post# of 8054
as Nov 17 2011 PR said CWRN had not issued any stock since 2010, and that was to Geo as part of the JVA
The following is NOT for CWRN- just an illustration of an 8k for such
Entry into a Material Definitive Agreement, Unregistered Sale of E
Item 1.01. Entry into a Material Definitive Agreement.
On October 16, 2013, ....... (the "Company") finalized a Stock Purchase Agreement (the "Agreement") Oel und Erdgazforshung AG (the "Investor"), relating to the sale and issuance of an 246,914 shares of the Company's common stock, par value $0.001 per share (the "Common Stock"), for a purchase price of $200,000, and warrants (the "Warrants") to purchase an aggregate of 96,618 shares of Common Stock, at an exercise price of $1.04 per share (the "Offering").
The Warrants are exercisable immediately and expire October 10, 2016. The Warrants are exercisable, at the option of the holder, in whole or in part by delivering to the Company a duly executed exercise notice accompanied by payment in full for the number of shares of Common Stock purchased upon such exercise. The exercise price and the number of shares of Common Stock purchasable upon the exercise of each Warrant are subject to adjustment in the event of stock dividends, distributions, splits, and reclassifications.
The foregoing descriptions of the Agreement, the Offering and the Warrants do not purport to be complete and are qualified in their entirety by the documents, which are attached as Exhibits 10.1 and 4.1, to this Current Report on Form 8-K and incorporated herein by reference.
Item 3.02 Unregistered Sales of Equity Securities.
The information contained in Item 1.01 of this Current Report on Form 8-K with respect to the issuance of the Common Stock and the Warrants are hereby incorporated by reference. The Common Stock and the Warrants were issued pursuant to the exemption afforded by Rule 506 of Regulation D promulgated under Securities Act of 1933, as amended.
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