NEW FRONTIER ENERGY INC: M&A transaction — New Frontier Energy acquires CareOne, declares end of shell company status

NEW FRONTIER ENERGY INC

Issued 200M common shares to acquire 100% of CareOne (debt resolution); closing March 24, 2023.
CareOne had unaudited revenue of $600,000 and cash of $12,000 for year ended Dec 31, 2022.
Company declares it ceased being a shell company as of Mar 23, 2023 via CareOne acquisition and R.A.M.S. oil shale business.
Locked out of OTC Markets portal; filed 8-K voluntarily to notify shareholders of shell status change.
Outstanding shares: 79,786,517 common + 1 Series A Preferred (convertible to 80% of common) as of Feb 28, 2023.

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

NEW FRONTIER ENERGY INC completed an acquisition involving CareOne, LLC for 200,000,000 shares of its common stock (closed 2023-03-24).

Action: acquisition
Counterparty: CareOne, LLC
Consideration: 200,000,000 shares of its common stock
Closing: 2023-03-24

Exact text from the filing

Pursuant to the SPA, the Company was to issue a total of 200,000,000 shares of its common stock to acquire 100% of the outstanding interests in CareOne.

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Source: SEC EDGAR

accession 0001683168-23-001757

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