NSRS North Springs Resources Corp (CE)

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): January 19, 2012

NORTH SPRINGS RESOURCES CORP.

 (Exact name of Company as specified in its charter)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Company 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))

NORTH SPRINGS RESOURCES CORP.

Form 8-K

Current Report

ITEM 1.01

ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT

On January 19, 2012, North Springs Resources Corp., a Nevada corporation (the "Company") issued a ten percent (10%) Convertible Drawdown Promissory Note – Amendment No. 1 (the “Drawdown Note”) to Kazuo Holdings, Inc. (“Kazuo”). Pursuant to the Drawdown Note, the Company may borrow up to one million seven hundred fifty thousand US dollars ($1,750,000) from Kazuo.  The Note earns simple interest accruing at a rate of ten percent (10%) per annum and is due on or before the one (1) year anniversary of the Drawdown Note.  This Drawdown Note amends and supersedes the prior Drawdown Note dated December 21, 2011, a copy of which was filed on a Form 8-K on December 28, 2011.  To date, the Company has received an aggregate of $630,000 of the now amended available draw down amount of $1,750,000.

The description of the Drawdown Note is a brief summary only and is qualified in its entirety by the respective terms set forth therein.  A copy of the Drawdown Note is filed as Exhibit 10.1 to this Current Report on Form 8-K.

ITEM 2.03     

CREATION OF A DIRECT FINANCIAL OBLIGATION

The information provided in Item 1.01 of this Current Report on Form 8-K is incorporated by reference into this Item 2.03.

ITEM 9.01

FINANCIAL STATEMENTS AND EXHIBITS

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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