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GRH > SEC Filings for GRH > Form 8-K on 4-Feb-2014All Recent SEC Filings

Show all filings for GREENHUNTER RESOURCES, INC. | Request a Trial to NEW EDGAR Online Pro

Form 8-K for GREENHUNTER RESOURCES, INC.


4-Feb-2014

Completion of Acquisition or Disposition of Assets


Item 2.01 Completion of Acquisition or Disposition of Assets

On January 29, 2014 the Company's wholly owned subsidiary, GreenHunter Water, LLC sold (i) a saltwater disposal well and associated equipment located in Karnes County, Texas and (ii) certain real property located in Karnes County, Texas pursuant to an Asset Purchase Agreement with Sable Environmental SWD 5,
LLC. The Kenedy Hunter SWD Well and the Coy City Hunter real property was sold for total consideration of Three Million Eight Hundred Seventy Five Thousand Dollars ($3,875,000). The Company received $1,000,000 cash at closing and received a note for the balance of the purchase price at an interest rate of 10% per annum. The note matures on January 31, 2016. The Asset Purchase Agreement is incorporated herein by reference and is attached hereto as Exhibit
10.1. The Company's press release dated February 3, 2014 is incorporated herein by reference and is attached hereto as Exhibit 99.1.


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