Each one in plain English, with the numbers worked through for a shareholder.
11 June 2015material agreement● NeutralMajor
On June 6, 2015 Canyon Gold agreed to buy 90% of Vaportech3d LLC, owner of a cedar leaf oil vapor technology for disinfecting buildings, for 500,000 Series B convertible preferred shares, with closing due by July 31, 2015 subject to due diligence. Further Series B shares are payable if sales thresholds are hit, the prior owner keeps 10% and a 5% sales royalty, and the company will try to raise up to $500,000 with no assurance it will succeed. The filing does not mention the earlier Marshall Thomsen cannabis deal.
ASHER ENTERPRISES, INC. EIN reported a DEFENSE TECHNOLOGIES INTERNATIONAL CORP. shareholding of 49,938 shares (0.30% of votes) in a periodic institutional filing.
On May 21, 2014 Canyon Gold agreed to buy Marshall Thomsen Ltd., a development-stage company that applied on May 15, 2014 to Health Canada for a licence to grow medicinal cannabis, a move away from gold exploration. The price is 1,000,000 Series B convertible non-voting preferred shares, plus up to 1,000,000 Series A voting preferred shares if the licence is granted and at least $12 million of new funding is raised, and up to 7,000,000 more Series A shares tied to sales. Closing is due by July 31, 2014; the filing says there is no assurance the licence will be granted or that funding can be raised.
On April 7, 2014 Canyon Gold agreed with EMAC Handels AG to acquire 100% of 180 mineral claims in the Long Canyon Gold Trend, Elko County, Nevada, in exchange for 12,000,000 new shares (reflecting a 1-for-20 reverse split effected April 4, 2014). EMAC keeps a 3% net smelter royalty, the company bears all claim and exploration costs, and completion is expected in Q2 2014 after due diligence; exploration depends on a technical report and funding.
Canyon Gold Corp. (the company's name at the time, later renamed Defense Technologies International) hired Worldwide PR News, a New York firm, on June 10, 2013 for investor and brand awareness work. It will pay $150,000 for a six-month program, with a $15,000 retainer, $10,000 due by June 30, 2013, then $25,000 monthly for five payments, and the contract renews automatically unless ended.
