Debt Cancellation Agreement/ Pay-Off LetterDebt Cancellation Agreement/ Pay-Off Letter • July 20th, 2017 • Dala Petroleum Corp. • Crude petroleum & natural gas • Minnesota
Reference is made to that certain Common Stock Purchase Agreement made as of June __, 2017 (the “SPA”) by and among Dala Petroleum Corp., a Minnesota corporation, whose principal executive offices are located at 328 Barry Ave. S #210, Wayzata, MN 55391 (the “Company”), M2 Equity Partners LLC, a Minnesota limited liability company, the “Purchaser”). Pursuant to the SPA and as a condition to the closing of the SPA (the “Closing”), the Company shall have no indebtedness and/or liabilities immediately after the Closing.
