Energy Hunter Resources, Inc. entered into a stock purchase agreement to acquire Home Treasure Finders, Inc. in a reverse merger transaction.
August 18, 2019
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Energy Hunter Resources, Inc. entered into a stock purchase agreement to acquire Home Treasure Finders, Inc. (OTCPK:HMTF) in a reverse merger transaction on August 15, 2019. Under the terms of the agreement, Home Treasure Finders, Inc. will acquire 6.33 million shares of Energy Hunter Resources, Inc. in exchange for 6.33 million shares of its series A convertible preferred stock. Each share of the series A convertible preferred stock shall convert into 16 shares of common stock of Home Treasure Finders, Inc. On a fully diluted, as converted basis, the shareholders of Energy Hunter Resources shall own approximately 88% of the issued and outstanding common stock of Home Treasure Finders, Inc. Gary C. Evans, currently the Chief Executive Officer of Energy Hunter Resources, Inc., will become new Chief Executive Officer of Home Treasure Finders, Inc. The agreement may be terminated at any time prior to the closing by either Home Treasure Finders, Inc.'s or sellers' representative if the closing doesn't occur on or prior to October 1, 2019. Post transaction, the name of the combined company will be Generation Hemp, Inc.
The transaction is subject to Home Treasure Finders, Inc., Energy Hunter Resources, Inc. and Corey Wiegand, current Chief Executive Officer of Home Treasure Finders, Inc., entering into documentation pursuant to which Corey Wiegand shall purchase certain parts of the legacy real estate business from Home Treasure Finders, Inc. for $0.16 million, resignations effective immediately upon closing of the directors and officers of Home Treasure Finders, Inc. in their capacities as directors and/or officers, as requested by sellers, requisite regulatory approvals and the parties having entered into an agreement to either extend, refinance, or repay certain promissory note, which in any case shall release Corey Wiegand for any personal liability. The Boards of Directors of Home Treasure Finders, Inc. and Energy Hunter Resources, Inc. have each approved execution of the agreement. As on August 27, 2019, the transaction is expected to close within next 30 to 60 days. As of October 3, 2019, it was agreed to extend to November 1, 2019 the outside date after which either party may terminate the agreement if the transactions contemplated thereunder have not been consummated. Home Treasure Finders plans to divest all of the existing oil and gas properties owned by Energy Hunter Resources, proceeds of which are anticipated to be used to assist Home Treasure Finders in its goal of becoming a pure play 'Hemp only company'. Dean Colucci of Duane Morris LLP acted as legal advisor for Energy Hunter Resources, Inc.
Evergreen Sustainable Enterprises, Inc. is a sustainable green energy company. The Company, through its wholly owned subsidiaries, has operations in both the bitcoin mining industry and the hemp industry. Through its bitcoin mining projects, it sources stranded energy in rural areas for bitcoin mining installations. In addition to its hydroelectric powered bitcoin operations in Costa Rica, the Company is in development on several bitcoin mining arrays in rural or remote United States locations. It has two bitcoin mining arrays in development in Arkansas, an eight-megawatt array in south central Arkansas. It also has three bitcoin mining arrays located in Kentucky, a five-megawatt array in Carter County and two additional sites in various stages of development in Greenup County. Its hemp processing operations provide post-harvest and midstream services to growers by drying, processing, cleaning, stripping harvested hemp directly from the field.