FORMATION MINERALS, INC.: M&A transaction — Formation Minerals sells mineral and royalty interests for $140,000

FORMATION MINERALS, INC.

Sold 100% of its mineral and royalty interests in LA, OH, WV, and TX for $140,000 cash.
Transaction closed on May 22, 2024; effective date for production revenue is June 1, 2024.
Properties include interests in Bienville Parish, LA; Belmont County, OH; Ohio County, WV; Red River Parish, LA; Brazos County, TX.

item 1.01 item 2.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

FORMATION MINERALS, INC. completed a disposition for $140,000 in cash (closed 2024-05-22).

Action: disposition
Consideration: $140,000 in cash
Closing: 2024-05-22

Exact text from the filing

On May 22, 2024, we entered into a purchase and sale agreement (the “Purchase and Sale Agreement”) for the sale of certain mineral and royalty interests with a private buyer whereby the Company is selling various mineral and oil and gas royalty interests in exchange for $140,000 in cash. The transaction to closed on May 22, 2024.

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Source: SEC EDGAR

accession 0001213900-24-047155

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