CoJax grants CEO & CFO 12,500 preferred shares each for past-due 2021 comp

CoJax Oil & Gas Corp

Company issued 12,500 Series A Convertible Preferred shares to CEO Jeffrey Guzy and 12,500 to CFO Wm. Barrett Wellman as compensation for 2021 services.
Preferred shares have a one-year restriction on sale/transfer and piggyback registration rights expiring January 4, 2023.
Issuance is an unregistered sale of securities under Rule 506(b) and Section 4(a)(2) of the Securities Act.
Grant is in lieu of cash compensation, indicating the company used equity to satisfy past-due obligations.

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