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SRNA > SEC Filings for SRNA > Form 8-K on 25-Mar-2014All Recent SEC Filings

Show all filings for SURNA INC.

Form 8-K for SURNA INC.


Other Events

Item 8.01 Other Events.

Effective March 25, 2014, Surna Inc. (the "Company", "we", "us") completed the issuance of a dividend of all of its ownership in Trebor Resource Management Group, Inc. (the "Trebor"), a wholly owned subsidiary, to the Company shareholders, resulting in Trebor becoming a separate entity.

The dividend shares of Trebor are and shall remain restricted securities as defined in Rule 144 promulgated under the Securities Act of 1933, as amended. The issuance of Trebor restricted stock was completed on a one for one basis to the Company shareholders of record on March 21, 2014.

Trebor is a party to a Memorandum of Understanding ("MOU") with RMA Holdings, an entity formed under the laws of the Philippines ("RMA"). RMA and associated companies is in the mining and smelting business with existing assets and operating permits for mineral extraction and refining in the Philippines. The MOU requires the parties to work together to identify and develop joint opportunities in the mining business in the Philippines, including as related to a specific gold mining property (the "Pargum Mine"). The MOU also requires the parties to develop a plan of operation for the Pargum Mine including financing and expansion. It is expected that RMA will secure necessary permits required for the development, construction and plant operations. It is expected that Trebor will provide the necessary financing and technology for the Pargum Mine.

In addition to the Pargum Mine, the MOU contemplates that the parties will jointly work to identify and develop other mining opportunities.

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