White River Energy issues Series D shares, ups authorized shares, discloses insider ownership

White River Energy Corp.

Issued 95.67 Series D shares convertible into 478,337 common shares to Smithline Family Trust for waiver of rights under promissory notes and consulting agreement.
Authorized Series D shares increased from 250 to 1,000 via Certificate of Amendment filed with Nevada Secretary of State.
Directors and officers entitled to receive common shares from RSUs vesting within 60 days of Oct 23, 2023.
CEO Randy May beneficially owns 2,087,063 shares (11.3%); all directors and officers as group own 4,781,251 shares (24.8%).
Transaction exempt under Section 4(a)(2) and Rule 506(b) of Regulation D.

item 1.01 item 3.02 item 5.03 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Governance Changes SEC 8-K Item 5.03/5.05/5.06 confidence 0.95

White River Energy Corp.: Amended Series D Convertible Preferred Stock certificate of designation to increase authorized shares from 250 to 1,000 (effective 2023-10-19).

Change: charter amendment
Effective: 2023-10-19

Exact text from the filing

On October 19, 2023, following approval of the Board of Directors, the Company filed a Certificate of Amendment to the Certificate of Designation of Preferences, Rights, and Limitations of Series D Convertible Preferred Stock (the “Series D Certificate of Designation”) with the Nevada Secretary of State to increase the number of authorized shares of Series D from 250 shares to 1,000 shares.

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Source: SEC EDGAR

accession 0001493152-23-038115

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