Current Report Filing (8-k)
19 Oktober 2022 - 10:02PM
Edgar (US Regulatory)
0001589361
false
0001589361
2022-10-13
2022-10-13
iso4217:USD
xbrli:shares
iso4217:USD
xbrli:shares
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): October 13, 2022
White
River Energy Corp
(Exact
name of registrant as specified in its charter)
Nevada |
|
333-192060 |
|
45-3797537 |
(State
or other Jurisdiction
of
Incorporation) |
|
(Commission
File
Number) |
|
(IRS
Employer
Identification
No.) |
609
W/ Dickson St., Suite 102 G
Fayetteville,
AR |
|
72701 |
(Address
of principal executive offices) |
|
(Zip
Code) |
|
(800)
203-5610 |
|
|
(Registrant’s
telephone number, including area code) |
|
Check
the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under
any of the following provisions:
☐ |
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
|
|
☐ |
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
|
|
☐ |
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate
by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405)
or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging
growth company ☐
If
an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying
with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Securities
registered pursuant to Section 12(b) of the Act: None
Item
1.01 Entry into a Material Definitive Agreement.
On
October 13, 2022, White River Operating LLC (the “Borrower”), a Texas limited liability company, a wholly-owned subsidiary
of White River Holdings Corp. (“Holdings”), a Delaware corporation and indirect wholly-owned subsidiary of White River Energy
Corp (the “Company”) issued a Secured Promissory Note in favor of Align Business Finance, LLC (“Align”) in the
principal amount of $1,500,000 (the “Note”). The Borrower used the proceeds of the Note to acquire two oil and gas drilling
rigs and related equipment. The Note is secured by the purchased equipment and the other assets of the Borrower. The Note is due on October
13, 2025 and bears interest equal to the lesser of (i) the “Prime Rate” published in the “Bonds, Rates and Yields”
section of The Wall Street Journal plus 7.5%; and (ii) the maximum rate permitted by applicable law. The Company, Holdings, and Mr. Jay
Puchir, the Company’s Chief Executive Officer, and Mr. Randy S. May, the Company’s Executive Chairman, executed and delivered
guarantees in favor of Align to secure the Note.
SIGNATURES
Pursuant
to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by
the undersigned hereunto duly authorized.
|
White
River Energy Corp |
|
|
|
Date:
October 19, 2022 |
By: |
/s/
Jay Puchir |
|
Name: |
Jay
Puchir |
|
Title: |
Chief
Executive Officer |
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