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SWVI > SEC Filings for SWVI > Form 8-K on 31-May-2013All Recent SEC Filings

Show all filings for SWINGPLANE VENTURES, INC.



Entry into a Material Definitive Agreement, Other Events, Financial Sta

Item 1.01 Entry into a Material Definitive Agreement

On May 27, 2013, the Company negotiated an extension on the notice of Default that was filed pursuant to an Option Agreement and amendments thereto with it wholly owned subsidiary, Mid Americas Corp. Under the terms of the extension agreement, the Company is required to pay approximately $55,000 in property maintenance fees on or before June 15, 2013. Further the Optionors have agreed to evaluate Swingplane's proposal to renegotiate the existing Option Agreements and the amendements thereto at such time as the Optionees, in attendance with potential joint venture partners, attend at the property on or about June 7, 2013.

Management will travel back to Chile to attend the property visit with a potential joint venture partner and to negotiate a joint venture and new terms under the Option Agreement at that time, if possible.

Should management be unable to negotiate a new agreement, then the ability to cure the default will only be available until July 1, 2013 at which time the Company will lose all rights and interest in and to the Property.

Item 8.01 - Other Events

On May 30, 2013, he Company published a press release related to the current status of the Option Agreement and a potential joint venture partner. A copy of the press release is appended as Item 99.1 to this filing on Form 8-K.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

The exhibits listed in the following Exhibit Index are filed as part of this Current Report on Form 8-K.

Exhibit Number Description
10.1 Letter of Extension Filed herewith between Optionors, the Company and Mid Americas
99.1 Press Release dated May Filed herewith 30, 2013

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