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SVLT > SEC Filings for SVLT > Form 8-K on 1-May-2014All Recent SEC Filings

Show all filings for SUNVAULT ENERGY, INC.



Completion of Acquisition or Disposition of Assets

Item 2.01 Completion of Acquisition or Disposition of Assets.

Our company advises that further to our Form 8-K filed on March 5, 2014 in regards to our agreement for the acquisition of CleanGen (1454004 Alberta Ltd) (the "Vendor"), the closing of the transaction has been completed, with the effective date of closing of the acquisition on March 13, 2014. As at the closing date, the conditions precedent required in the purchase agreement had been satisfied and the parties' closing deliveries completed. Specifically in regards to the required conditions and deliveries: (1) on March 1, 2014 the purchase of CleanGen was approved by our board of directors; (2) on March 7, 2014, the shares of our company as payment for the acquisition were issued by our transfer agent; and (3) on March 10, 2014 a change of shareholders was filed by 1454004 Alberta Ltd whereby we became a 100% shareholder of 1454004 Alberta Ltd.; and (4) on March 13, 2014 pursuant to the agreement the share exchange was completed pursuant to which we received 100% of 1454004 Alberta Ltd, by receipt of physical share certificate and the Vendor received a total of 19,500,000 shares of our company in the form of physical certificate as well. The March 5, 2014 Form 8-K as filed requires corrective clarification in that shares were agreed to be issued as per the terms of closing within the purchase agreement, but had not been issued as required to complete closing as at that time. With the delivery of shares to both parties involved in the transaction those conditions have now been fulfilled with an effective date of closing of March 13, 2014.

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