MetaWorks enters 4-year biz dev pact with GSD Group; 20% success fee

WASTE ENERGY CORP.

Success fee of 20% of gross revenue or 20% of net profit per qualified contract introduced by GSD.
GSD can convert outstanding success fees into common stock at a 10% discount to market price.
Term of agreement is 4 years, extendable by another 2 years with written notice.
Shelly Murphy, a MetaWorks director, is CEO of GSD Group, creating a related-party transaction.
GSD will provide global Web3 business development and customer introductions.

item 1.01 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

WASTE ENERGY CORP. entered into Agreement with GSD Group, LLC (effective 2023-08-24).

Action: entry
Counterparty: GSD Group, LLC
Effective: 2023-08-24

Exact text from the filing

Effective August 24, 2023, we entered into a business development service agreement (the “Agreement”) with GSD Group, LLC (“GSD”), whereby GSD has agreed to provide certain business development and introductory services (the “Services”) to our company including the identification of new business opportunities and introductions to potential new customers in the digital and Web3 space globally and serving as liaison to new and existing customers.

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Source: SEC EDGAR

accession 0001493152-23-030426

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