Bakken Resources, Inc. (OTCMKTS:BKKN) Files An 8-K Entry into a Material Definitive AgreementItem 1.01 Entry into a Material Definitive Agreement
The information disclosed under Item 1.01 of the Registrant’s Current Report on Form 8-K filed with the SEC on January 9, 2018 is supplemented as follows:
On April 2, 2018, the Bakken Resources, Inc. (the “Company”) received notice from Eagle Private Equity, LLC (“Eagle”), that Eagle believed the Company made certain misrepresentations in connection with the transactions described in the Current Report on Form 8-K filed with the SEC on January 9, 2018, and that Eagle now seeks to rescind such transactions. The Company disputes that any misrepresentations occurred. The Audit Committee of the Company is currently investigating this matter.
About Bakken Resources, Inc. (OTCMKTS:BKKN)
Bakken Resources, Inc. is an early-stage company. The Company is an oil and gas exploration company, with properties located mostly in the Bakken. As of December 31, 2014, the Company owned mineral rights to approximately 7,200 gross acres and 1,600 net mineral acres of land located over eight miles southeast of Williston, North Dakota. The Company intends to focus on evolving into an independent energy company engaged in the acquisition, exploration, exploitation and development of oil and natural gas properties. The Company’s activities are focused mainly in the Williston Basin, a sedimentary basin in eastern Montana, Western North and South Dakota, and Southern Saskatchewan known for its deposits of petroleum and potash. The Company holds mineral acreage in the Duck Lake region of Western Montana, in an oil play commonly referred to as the Alberta Bakken, as well as approximately 17% working interest in an operating well located in Archer County, Texas.