SIRG Form 8K (Feb 28 2012) Sierra Resource Group
Post# of 4018
SIRG Form 8K (Feb 28 2012)
Sierra Resource Group, Inc.
http://www.otcmarkets.com/edgar/GetFilingHtml...ID=8443743
Section 1 – REGISTRANT’S BUSINESS AND OPERATIONS
Item 1.01. ENTER INTO A MATERIAL DEFINITIVE AGREEMENT
Effective February 20, 2012 the board of directors approved the purchase of half of the minority interest in the Chloride Copper Mine from the Medina Property Group, LLC under the terms of a letter of intent. The execution of this transaction would increase the Company’s interests in the Chloride Copper Mine to 90%. The letter of intent is attached hereto as Exhibit 1.01 and is incorporated herein by reference.
ITEM 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS; APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF CERTAIN OFFICERS
On February 20, 2012 the board of directors approved and the Company has agreed to Consultant and Employment agreements with its Chairman of the Board-Timothy Benjamin, Chief Executive Officer-J. Rod Martin, Senior Vice President of Operations-Travis Snyder and Vice President of Exploration- Michel Rowland, respectively . The agreements are attached hereto as Exhibits 5.02 through 5.05 and are incorporated herein by reference.
SECTION 9 – FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
None
Exhibits
d) Exhibits.
1.01 Letter of Intent between the Company and Medina Property Group, LLC
5.02 Consulting Agreement between the Company and Timothy Benjamin
5.03 Employment Agreement between the Company and J. Rod Martin
5.04 Employment Agreement between the Company and Travis Snyder
5.05 Employment Agreement between the Company and Michel Rowland
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