Form 8-K - Current report
2024年8月13日 - 5:31AM
Edgar (US Regulatory)
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0001885336
0001885336
2024-08-06
2024-08-06
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities
Exchange Act of 1934
Date of Report (Date of earliest event reported):
August 12, 2024 (August 6, 2024)
FORMATION MINERALS, INC.
(Exact Name of Registrant as Specified in Charter)
Nevada |
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001-41209 |
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87-2406468 |
(State or other Jurisdiction
of Incorporation) |
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(Commission File Number) |
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(IRS Employer
Identification No.) |
P.O. Box 67
Jacksboro, Texas 76458
(Address of Principal Executive Offices) (Zip
Code)
972-217-4080
(Registrant’s Telephone Number, Including
Area Code)
Securities registered pursuant to Section 12(b)
of the Act: None
Check the appropriate box below if the Form 8-K
filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see
General Instruction A.2. below):
☐ |
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
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☐ |
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Indicate by check mark whether the registrant
is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the
Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check
mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting
standards provided pursuant to Section 13(a) of the Exchange Act.
In this Current Report
on Form 8-K, the terms “we”, “us”, “our” and the “Company” refer to Formation Minerals,
Inc., a Nevada corporation, unless the context indicates otherwise.
Item 3.02. Unregistered Sales of Equity
Securities.
The disclosure set forth
below in Item 8.01 of this Current Report on Form 8-K is incorporated by reference herein. The August Shares (as defined below) were issued
and sold, and the shares of common stock, par value $0.01 per share, issuable upon conversion of the August Shares, will be issued, in
reliance upon the exemption from registration provided in Section 4(a)(2) of the Securities Act of 1933, as amended.
Item 8.01. Other Events.
As previously reported, on June 10, 2024, the
Company entered into a Securities Purchase Agreement (“Purchase Agreement”) with GHS Investments LLC, a Nevada limited liability
company (“GHS”), for the purchase of up to 250 shares of the Company’s Class B Convertible Preferred Stock, par value
$0.01 per share ( “Class B Preferred Stock”), in a private placement at $1,000 per share, for aggregate gross proceeds of
up to $250,000.
Pursuant to the Purchase Agreement (i) effective
June 10, 2024, the Company issued and sold 50 shares of the Class B Preferred Stock (the “Initial Shares”) to GHS for an aggregate
of $50,000 in gross proceeds and issued to GHS 100 shares of Class B Preferred Stock as an equity incentive for the purchase of the shares
of Class B Preferred Stock pursuant the Purchase Agreement, including the potential issuance and sale of the Additional Shares (as defined
below), and (ii) GHS agreed to purchase at one or more times, up to an aggregate of 200 additional shares of Class B Preferred Stock (the
“Additional Shares”) at the same purchase price per share at any time prior to the one year anniversary of the date of the
Purchase Agreement, subject to the satisfaction or waiver of certain conditions as described in the Company’s Current Report on
Form 8-K filed with the Securities and Exchange Commission on June 13, 2024. The Company used the net proceeds from the issuance and sale
of the Initial Shares and intends to use the net proceeds from the issuance and sale of the Additional Shares for general working capital
purposes.
On August 6, 2024, we issued and sold to GHS,
and GHS purchased from us, 50 Additional Shares (the “August Shares”) for a total purchase price of $50,000. In connection
with this issuance and sale, the Company paid Icon Capital Group LLC, as placement agent, a fee of $1,000.
The foregoing description of the Purchase Agreement
is not complete and is subject to and qualified in its entirety by reference to the full text of Purchase Agreement, a copy of which is
filed herewith as Exhibit 10.1 and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
Exhibits
SIGNATURES
Pursuant to the requirements
of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto
duly authorized.
Date: August 12, 2024
FORMATION MINERALS, INC. |
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By: |
/s/ Scott A. Cox |
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Scott A. Cox |
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President, Chief Executive Officer
and Chief Financial Officer |
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