Current Report Filing (8-k)
09 Dezember 2022 - 10:02PM
Edgar (US Regulatory)
0001589361
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0001589361
2022-12-05
2022-12-05
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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): December 5, 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
December 5, 2022, White River Operating LLC (the “Operator”), White River Energy LLC (the “Company”), and
Ault Energy, LLC (“Ault”) entered into that certain Participation Agreement (the “Agreement”), pursuant to
which, the parties agreed to the following: (i) Ault agreed to pay the Company an initial amount of $1,567,632.00 for drilling one
or more wells on the Company’s mineral lease located in Concordia Parish, Louisiana in exchange for (A) a 37.5% working
interest and (B) a 27% net revenue interest in all such wells. Under the Agreement, in the event the test well on the lease is
determined to be economically viable, Ault agreed to pay the Company an additional $595,972.45 in costs to complete and produce the
test well.
Under
the Agreement, Ault also agreed to participate in the drilling of the initial test well, and each party may also drill a substitute well
if the test well is abandoned prior to reaching the agreed upon depth. Further, for any well drilled after the initial test well and
substitute well referenced in the preceding sentence, Ault agreed to the same cost sharing arrangements as provided for the initial test
well.
The
well commenced drilling in November 2022 and is expected to reach terminal depths and be logged in December 2022.
The
foregoing description of the terms of the Agreement and the transactions contemplated thereby does not purport to be complete and is
qualified in its entirety by reference to the copy of the Agreement, which is filed as Exhibit 10.1 to this Current Report on Form 8-K
and incorporated herein by reference.
Item
9.01 Financial Statements and Exhibits
(d)
Exhibits.
|
|
|
|
Incorporated
by Reference |
|
Filed or
Furnished |
Exhibit
# |
|
Exhibit
Description |
|
Form |
|
Date |
|
Number |
|
Herewith |
10.1 |
|
Form
of Participation Agreement* |
|
|
|
|
|
|
|
Filed
|
10.4 |
|
Cover
Page Interactive Data File (embedded within the Inline XBRL document) |
|
|
|
|
|
|
|
|
* |
Certain
schedules and other attachments have been omitted. The Company undertakes to furnish the omitted schedules and attachments to the
Securities and Exchange Commission upon request. |
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:
December 9, 2022 |
By: |
/s/
Jay Puchir |
|
Name:
|
Jay
Puchir |
|
Title: |
Chief
Executive Officer |
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