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SVLT > SEC Filings for SVLT > Form 8-K on 5-Mar-2014All Recent SEC Filings

Show all filings for SUNVAULT ENERGY, INC.



Unregistered Sale of Equity Securities

Item 3.02 Unregistered Sales of Equity Securities

Effective February 19, 2014, we entered into a share purchase agreement, with Albert Klyne and family and 1454004 Alberta Ltd., an Alberta, Canada corporation. Klyne is the sole shareholder of 1454004 Alberta. Pursuant to the agreement, we have agreed to purchase from Klyne 100% of the issued and outstanding shares of 1454004 Alberta. As consideration, we have agreed to issue to Klyne 19,500,000 shares of our common stock.

Upon completion of the terms of the agreement, 1454004 Alberta will become our wholly-owned subsidiary. 1454004 Alberta holds 50% of the issued and outstanding shares of CleanGen Inc., an Alberta, Canada corporation that operates CleanGen Power Corp. and Cutting Edge Tire Recycling LP.

In accordance with the agreement, CleanGen Inc. is required to provide our company with audited financial statements within 75 days of executing the agreement. Once received, will file an amended Current Report on Form 8-K to include the financial statements of CleanGen Inc.

Pursuant to the agreement, we have issued an aggregate of 19,500,000 shares of our common stock to 2 non-US persons (as that term is defined in Regulation S of the Securities Act of 1933) in an offshore transaction relying on Regulation S of the Securities Act of 1933, as amended.

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