Common Contracts
2 similar Loan Agreement contracts by Ignis Petroleum Group, Inc.
September 22, 2005Loan Agreement • October 11th, 2005 • Ignis Petroleum Group, Inc. • Metal mining
Pursuant to the above referenced Loan Agreement, Borrower issued a Convertible Promissory Note, dated April 22, 2005 (the “Note”) to Lender in the original principal amount of $375,000, which was convertible at a conversion price of $0.50 per share into 750,000 shares of common stock, par value $0.01 per share, of Borrower. Ignis Petroleum Group, Inc., f/k/a Sheer Ventures, Inc. (the “Company”), and its sole director were aware of the Note when the Company entered into the Stock Exchange Agreement, dated May 11, 2005 (the “Stock Exchange Agreement”), by and among the Company, Doug Berry, Philipp Buschmann, Fraser Tod, Gareth David Ball, Stephen Macrow, Luke Duncan Robinson, Thomas Thompson and Borrower, pursuant to which all 1,600,000 outstanding shares of common stock of the Borrower were exchanged for 1,600,000 shares of common stock, par value $0.001 per share, of the Company. Upon the consummation of the transaction contemplated by the Stock Exchange Agreement (the “Exchange”), Bor
September 22, 2005Loan Agreement • October 11th, 2005 • Ignis Petroleum Group, Inc. • Metal mining
Pursuant to the above referenced Loan Agreement, Borrower issued a Convertible Promissory Note, dated April 22, 2005 (the “Note”) to Lender in the original principal amount of $1,125,000, which was convertible at a conversion price of $0.50 per share into 2,250,000 shares of common stock, par value $0.01 per share, of Borrower. Ignis Petroleum Group, Inc., f/k/a Sheer Ventures, Inc. (the “Company”), and its sole director were aware of the Note when the Company entered into the Stock Exchange Agreement, dated May 11, 2005 (the “Stock Exchange Agreement”), by and among the Company, Doug Berry, Philipp Buschmann, Fraser Tod, Gareth David Ball, Stephen Macrow, Luke Duncan Robinson, Thomas Thompson and Borrower, pursuant to which all 1,600,000 outstanding shares of common stock of the Borrower were exchanged for 1,600,000 shares of common stock, par value $0.001 per share, of the Company. Upon the consummation of the transaction contemplated by the Stock Exchange Agreement (the “Exchange”),
