Sky Quarry issues ~1.47M shares to settle $491K debt owed by subsidiary to LendSpark

Sky Quarry Inc.

Issued 699,977 initial shares plus 699,977 additional shares to LendSpark for $491,384 debt of wholly-owned subsidiary Foreland Refining.
Also issued 70,000 shares as settlement fee; all shares are freely tradable under Section 3(a)(10) of Securities Act.
Settlement agreement dated Dec 1, 2025; court approval obtained; company reserves 3.2M shares for issuance.
Additional shares may be issued upon conversion at a price based on lower of prior day closing or 5-day average closing price.
Leak-out provision limits LendSpark's daily sales to 20% of trading volume.

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