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CRNSF > SEC Filings for CRNSF > Form 8-K on 20-May-2013All Recent SEC Filings

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Form 8-K for CORONUS SOLAR INC.


20-May-2013

Entry into a Material Definitive Agreement, Termination of a Material Definiti


ITEM 1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT.

As reported in our Form 8-K filed with the SEC on March 18, 2011, on January 24, 2011, our wholly-owned subsidiary, Coronus Energy Corp. ("Coronus"), entered into a Vacant Land Purchase Agreement (the "Newberry Springs Agreement") to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California. The purchase price was $45,000. Coronus paid $8,000 and the vendor agreed to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on March 17, 2011. We disclose today, that on May 9, 2013, the parties agreed on a one-year extension to the note. All other terms remain the same, and monthly interest will continue to be paid throughout the extension.



ITEM 1.02 TERMINATION OF A MATERIAL DEFINITIVE AGREEMENT.

As reported in our Form 8-K filed with the SEC on May 16, 2011, on January 23, 2011, Coronus entered into a Vacant Land Purchase Agreement (the "29-Palms North Agreement") to acquire a 39.25 acre parcel of vacant land, situated north of 29-Palms, in the County of San Bernardino, California. The purchase price was $40,000. Coronus paid $8,000 and the vendor agreed to carry back the balance amount of $32,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on May 16, 2011. We disclose today, that on May 17, 2013, Coronus paid the balance amount of $32,000, retiring the vendor's note. Accordingly, Coronus now owns the parcel unencumbered.



ITEM 2.03 CREATION OF A DIRECT FINANCIAL OBLIGATION.

As reported in our Form 8-K filed with the SEC on March 18, 2011, on January 24, 2011, our wholly-owned subsidiary, Coronus Energy Corp. ("Coronus"), entered into a Vacant Land Purchase Agreement (the "Newberry Springs Agreement") to acquire a 20 acre parcel of vacant land, situated in Newberry Springs, in the County of San Bernardino, California. The purchase price was $45,000. Coronus paid $8,000 and the vendor agreed to carry back the balance amount of $37,000 for two years at 6.5% per annum interest, with monthly payments of interest only. The transaction closed on March 17, 2011. We disclose today, that on May 9, 2013, the parties agreed on a one-year extension to the note. All other terms remain the same, and monthly interest will continue to be paid throughout the extension.



ITEM 7.01 REGULATION FD DISCLOSURE.

As disclosed below under Item 8.01, we announced today 1) the extension to the Newberry Springs Agreement note, and 2) the payment of the balance amount of the 29-Palms North Agreement note.



ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.

Exhibits Document Description

99.1 Press release.

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