Defense Technologies International Corp. (OTCMKTS:DTII) Files An 8-K Unregistered Sales of Equity SecuritiesItem 3.02Unregistered Sales of Equity Securities.
On April 11, 2018, to a resolution approved by the Board of Directors, Defense Technologies issued 1,000,000 shares of its authorized, but previously unissued Common Stock, to EMAC Handels AG, a Swiss Company owned and controlled by Reinhard Hiestand. The shares were issued on a post-split basis following the company's one share for fifteen hundred shares reverse split effected April 9, 2018.
The 1,000,000 shares were issued upon the conversion of 100,000 shares of Defense Technologies Series A Convertible Preferred Stock. Each share of Series A Preferred Stock is convertible into ten shares of Defense Technologies Common Stock and carries Common Stock voting rights on the basis of 100 votes per share of Preferred Stock. EMAC's Series A Preferred shares were originally issued on December 31, 2016 in consideration for prior loans made to the company.
The above shares of Common Stock were issued in a private, isolated transaction to a person familiar with and having knowledge of the company's business and operations. In issuing the shares, the company relied on the exemption from registration under the Securities Act of 1933 provided by Section 4(a)(2) of that Act.
Cautionary Note About Forward-looking Statements
Statements contained in this current report which are not historical facts, may be considered "forward-looking statements," which term is defined by the Private Securities Litigation Reform Act of 1995. Any "safe harbor under this Act does not apply to a "penny stock" issuer, which definition would include the company. Forward-looking statements are based on current expectations and the current economic environment. We caution readers that such forward-looking statements are not guarantees of future performance. Unknown risks and uncertainties, as well as other uncontrollable or unknown factors, could cause actual results to materially differ from the results, performance or expectations, expressed or implied by such forward-looking statements.
About Defense Technologies International Corp. (OTCMKTS:DTII)
Defense Technologies International Corp., formerly Canyon Gold Corp., is an exploration-stage company seeking potential business opportunities in the minerals industry. The Company is engaged in the search for mineral deposits or reserves of precious and base metal targets, which are not in either the development or production stage. Its mineral property interests consisted of 30 Bureau of Land Management mineral lease claims, situated in the west section of the new Long Canyon Gold Trend area of east central Nevada, as of April 30, 2016. These properties are located next to other exploration projects in the Long Canyon Gold Trend. All the claims are located in Section 35, T 34N R63E, Mount Diablo Base & Meridian. It focuses on exploring the claims for gold and silver mineralization deposits as funding permits. It was focused on exploring for gold, silver and other minerals on property covering an area of 640 acres, as of April 30, 2016. As of April 30, 2016, it had no revenues.
