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AGIN > SEC Filings for AGIN > Form 8-K on 25-Sep-2013All Recent SEC Filings

Show all filings for AMERICAN GRAPHITE TECHNOLOGIES INC.

Form 8-K for AMERICAN GRAPHITE TECHNOLOGIES INC.


25-Sep-2013

Termination of a Material Definitive Agreement


Item 1.02 Termination of a Material Definitive Agreement

Rescission and Cancellation of Big North Acquisition:

On September 9, 2013, American Graphite Technologies Inc. (the "Company") had entered into a unit subscription agreement with Big North Graphite Corp., whereby the Company acquired a total of 2.666,667 units at $0.075 per unit, each unit consisting of one shares and one half of one warrant, entitling the holder to purchase one warrant share for a period of twenty-four months (24) from closing at a price of $0.12 per warrant share.

On September 19, 2013, the Company and Big North Graphite Corp. ("Big North") agreed to rescind and cancel the above described previously announced expedited private placement (the "Offering") of 2,666,667 units for gross proceeds of $200,000 (see Form 8-K filed with the Securities and Exchange Commission on September 16, 2013). The proceeds paid by the Company in connection with the Offering have been returned by Big North to the Company. No shares were issued to the Company by Big North and no shares will be issued as the Offering will not be finalized.

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