MINING GLOBAL, INC. (OTCMKTS:MNGG) Files An 8-K Entry into a Material Definitive Agreement
ITEM1.01 ENTRY INTO A MATERIAL DEFINITIVE AGREEMENT
On February 14, 2017, Mining Global, Inc., a Nevada corporation
(the Company or MNGG), entered into a Share Exchange Agreement
(the Agreement) with all of the shareholders of Sammya Nigeria
Limited, (SNL) a Nigerian corporationwhose primary business
isengineering mining, exploration and development of properties
located in Nigeria. to the Share Exchange Agreement, the Company
will acquire shares of capital stock of SNL from the SNL
Shareholder and in exchange issued restricted shares of its
common stock to the MNGG Shareholders.
The shares exchanged will be calculated based on a business
valuation determined by an independent appraisal. Upon
determination of the business valuation of SNL, MNGG will issue
its restricted common stock at a 25% discount of the appraised
value.
ITEM 2.01 COMPLETION OF ACQUISITION OR DISPOSITION OF
ASSETS.
The information provided in Item 1.01 of this Current Report on
Form 8-K related to the aforementioned Share Purchase Agreement
is incorporated by reference into this Item 2.01.
As a result of the Share Purchase Agreement, Sammya will become a
wholly owned subsidiary of the Company.
ITEM 5.01 CHANGES IN CONTROL OF REGISTRANT
On February 14, 2017, a change in control of Mining Global, Inc.
(the Company) occurred by virtue of the Company’s largest
shareholder, Joel Natario, selling 2,000,000 shares of the
Company’s Preferred Series Class A stock to the Purchasing
Shareholder, Mina Mar Group, Inc. Such shares represent 100% of
the Company’s total issued and outstanding shares of Preferred
Series Class A stock. As part of the sale of the shares, the
Majority Shareholder arranged with Joel Natario, prior to
resigning as the sole member of the Company’s Board of Directors
and to appoint new officers and directors of the Company (see
Item 5.02 below).
ITEM 5.02 DEPARTURE OF DIRECTORS OR PRINCIPAL OFFICERS;
ELECTION OF DIRECTORS; APPOINTMENT OF PRINCIPAL OFFICERS
Effective February 14, 2017, the Company accepted the resignation
of Joel Natario as the sole officer of the Company and as the
sole member of the Companys board of directors. The resignation
of Mr. Natario was not due to any disagreement with the Company
on any matter relating to its operations, policies or practices.
Simultaneously, interim Officers and Directors were elected. Mr.
Sammy Adigun, was elected as the Companys CEO. Mr. Miro Zecevic
was elected as the Companys Investor Relations. Mr. Stanley
Olatunde was elected as the Companys CFO. In addition, all named
officers were elected to the Board of Directors.
ITEM 8.01OTHER EVENTS
Effective February 14, 2017 the Company has a new interim
address:
224 Datura St.
Suite 1015
West Palm Beach FL 33401
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS
2.01 Share Purchase Agreement
About MINING GLOBAL, INC. (OTCMKTS:MNGG)
Mining Global Inc. is an exploration and development company. The Company builds and operates mines, and develops a portfolio of assets. The Company has an emphasis in North America while maintaining footholds in gold mining markets around the world. The Company is focused on organic growth and early stage acquisitions. The Company’s operations are dependent upon external funding and its ability to execute its business plan, realize sales and control expenses. The Company acquired mining equipment from SDI, Co. LTD. a Ghana Company. The acquisition includes a CAT 330 BL Excavator, a Kia Pick-up Truck and a Korean 60 TPH wash plant. As of June 10, 2014, Mining Global, Inc. is a part of Yaterra Ventures Corp. MINING GLOBAL, INC. (OTCMKTS:MNGG) Recent Trading Information
MINING GLOBAL, INC. (OTCMKTS:MNGG) closed its last trading session 00.00000 at 0.00010 with 1,100,000 shares trading hands.