CONVERSION AND SUBSCRIPTION AGREEMENTConversion and Subscription Agreement • October 8th, 2024 • Formation Minerals, Inc. • Crude petroleum & natural gas • Nevada
The undersigned (the “Subscriber”) is a stockholder of Formation Minerals, Inc., a Nevada corporation (the “Company”), and has made certain loans and advances to the Company, as listed on Schedule A attached to this Conversion and Subscription Agreement (the “Agreement”), entered into as of October 4, 2024, which the Subscriber and the Company desire to convert into shares of common stock, $0.01 par value per share, of the Company (the “Common Stock”) at a conversion price of $0.04 per share of Common Stock, on the terms and subject to the conditions set forth herein. The rights, preferences, terms and conditions of the shares of Common Stock are set forth in the Company’s amended and restated articles of incorporation (the “Articles of Incorporation”). The Subscriber wishes to subscribe for the number of shares of Common Stock set forth on the signature page of this Agreement (the “Shares”), and has requested that the Company accept payment for such Shares in the form of the conversio
