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SLNR > SEC Filings for SLNR > Form 8-K on 25-Oct-2013All Recent SEC Filings




Entry into a Material Definitive Agreement, Unregistered Sale of Eq

Item 1.01 Entry into a Material Definitive Agreement.

Common Stock Issuance

On September 17, 2013 (the "Closing Date"), Sealand Natural Resources Inc., a Nevada corporation (the "Company") entered into a stock purchase agreement (the "Agreement") with a non-U.S. investor (the "Purchaser"), pursuant to which the Company issued 125,000 shares of common stock to the Purchaser for an aggregate purchase price of $500,000, or $4.00 per share. As of the Closing Date, the Purchaser funded the Company $400,000. The remaining $100,000 will be funded on June 15, 2014 provided that the Company reaches revenues of $2,000,000 in the fiscal year ended May 31, 2014. The shares have not been registered with the Securities and Exchange Commission, or under any state securities laws, and were issued in reliance on an exemption from registration provided by Section 4(2) of the Securities Act of 1933, as amended (the "Act") and/or Rule 903 Regulation S promulgated under the Act. The proceeds from the sale will be used for working capital purposes and to pay a Company distributor.

Item 3.02 Unregistered Sales of Equity Securities.

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

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