secwatch.observer — SEC 8-K summary
======================================

Issuer:     SILVERTON ENERGY, INC. (—)
CIK:        0001508786
Form:       8-K/A
Filed at:   2024-10-16T23:59:59+00:00
Accession:  0001683168-24-007168
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.70
Item codes: 8.01, 1.01, 2.01, 5.06, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Silverton Energy acquires Oklahoma oil & gas leases for $81M+$3.5M in notes
---------------------------------------------------------------------------

- On May 1, 2024, Silverton entered two asset purchase agreements: $81M AHIC assets via 20-year non-interest bearing note due 2044.
- Also acquired Agrawal assets for $3.5M convertible note, convertible into common at market value within 13 months.
- AHIC assets have current value of $81M; note secured by assets; default allows foreclosure or conversion to preferred stock.
- Company's Class C Preferred offering sold 927,500 shares at $0.40 each of 5M authorized under Reg D.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1508786/000168316824007168/0001683168-24-007168-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1508786/000168316824007168/silverton_8ka4.htm
  HTML page:      https://secwatch.observer/filing/0001683168-24-007168

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer