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.

Key facts

Extracted from this filing and checked against the source text.

Equity Issuances SEC 8-K Item 3.02/3.03 confidence 0.95

Sky Quarry Inc. issued 699,977 shares of its common stock (Initial Shares) of common stock to LendSpark Corporation for settlement of $491,384.00 due and owing.

Security: common stock
Shares: 699,977 shares of its common stock (Initial Shares)
Purchaser: LendSpark Corporation
Consideration: settlement of $491,384.00 due and owing

Exact text from the filing

pursuant to the terms of a settlement agreement entered into between the Company and LendSpark on December 1, 2025 (“Settlement Agreement”). The Settlement Agreement settled $491,384.00 due and owing from Foreland Refining Corporation, the Company’s wholly-owned subsidiary, to LendSpark pursuant to the terms of the business loan and security agreement dated May

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Sky Quarry Inc. filing history →

Source: SEC EDGAR

accession 0001096906-25-002043

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