- Current report filing (8-K)
16 Mai 2011 - 11:18PM
Edgar (US Regulatory)
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)
May 12,
2011
PENGRAM CORPORATION
(Exact
name of registrant as specified in its charter)
NEVADA
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000-52626
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68-0643436
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(State or other jurisdiction of
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(Commission File
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(IRS Employer Identification No.)
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incorporation)
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Number)
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1200 Dupont Street, Suite 2J
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Bellingham, WA
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98225
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(Address of principal executive
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(Zip Code)
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offices)
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Registrant's telephone number, including area code
(360)
255-3436
N/A
(Former name or former address, if changed
since last report)
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))
Item 1.01 Entry Into a
Material Definitive Agreement.
On May 12, 1011, Pengram Corporation (the Company) entered
into an amendment to the letter agreement dated April 13, 2011 with Development
Resources LLC granting the Company the exclusive right to negotiate the
acquisition of 54 mineral claims located in the Long Canyon area of Elko County,
Nevada. The Company hopes to reach an agreement within the next week.
Development Resources LLC, the owner of the mineral claims, has agreed to extend
the exclusivity period under the agreement dated April 13, 2011 for an
additional 7 days to permit negotiations to be completed.
Item 2.01 Completion of
Acquisition or Disposition of Assets.
The Company has settled approximately $110,000 of outstanding
indebtedness of the Company and its wholly-owned subsidiary, Magellan
Acquisition Corp. ("Magellan"), by transferring its 209,000 shares of Copper
Development Corp. held by Magellan to certain creditors of the Company and
Magellan, including $7,923.50 of indebtedness to Richard W. Donaldson, the
Company's President, $5,883.00 of indebtedness to Kahala Financial Corp. a
company controlled by Mr. Donaldson, $6,174.50 of indebtedness to Don Archibald,
a director of Magellan and $291.50 of indebtedness to David K. Ryan, a director
of Magellan. For the purposes of the settlement, the shares of Copper
Development Corp. were valued based on their trading price on the London AIM
Market of approximately $0.55 per share.
Item 9.01 Financial Statements
and Exhibits.
(d)
Exhibits
SIGNATURE
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.
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PENGRAM
CORPORATION
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Date: May 16, 2011
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By:
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/s/ Richard W. Donaldson
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RICHARD W. DONALDSON
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President and Chief Executive
Officer
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2
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